Alberta oilsands specialist Meg Energy Corp. reported that it has retained a 20,000 b/d oil shipping contract on the incomplete expansion of the Trans Mountain Pipeline.

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Management confirmed its plans for capacity on the Trans Mountain Expansion Project (TMX), whose estimated construction cost has ballooned 70%, while reporting fourth quarter and full-year 2021 earnings.

TMX would triple crude oil transport capacity on the existing Trans Mountain system to 890,000 b/d. The system carries oil from landlocked Alberta to the British Columbia coast.

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According to Meg, the TMX deliveries would expand its marketing network for a bitumen grade called Access Western...