Canadian Pacific's (CP) role as middleman in the deal between Phillips 66, Conoco Phillips and...

|About: Canadian Pacific Railway Li... (CP)|By:, SA News Editor

Canadian Pacific's (CP) role as middleman in the deal between Phillips 66, Conoco Phillips and Global Partners to ship ~50K bbl/day of crude oil from North Dakota’s Bakken field to New Jersey highlights the emergence of rail shipments as a permanent fixture in the oil business. The deal could generate an additional $78M in revenue this year and $90M next year for CP.