Reliance Industries buys its first Canadian crude from Trans Mountain pipeline, sources say

News Snapshot:

Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner’s first oil purchase from Canada’s new Trans Mountain pipeline, trade sources said. Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start transporting oil in May. The Canadian government-owned pipeline expansion will nearly triple the flow of crude from Alberta to Canada’s Pacific Coast and open up access to Asia and the U.S. West Coast. Shell will perform ship-to-ship transfers to move about four 500,000-barrel cargoes of...