Ottawa considers keeping the 590,000-barrel-per-day pipeline state-owned as Canadian crude gains traction following Middle East supply disruptions.
The Canadian government is reconsidering plans to privatize the Trans Mountain oil pipeline, opting instead to retain state ownership. The shift follows increased global demand for Canadian crude as buyers seek alternatives to Middle Eastern supply disruptions.
Trans Mountain, which moves 590,000 barrels per day, was previously slated for sale to private investors. Officials cited evolving market conditions, including geopolitical tensions and shifting energy trade flows, as key factors in the reassessment.
No immediate market reaction was reported, but analysts suggest state ownership could stabilize long-term infrastructure investment amid volatile oil prices.