11/1/2013

ExxonMobil is looking at the prospect of building a rail terminal in Alberta, Canada, to transport crude oil from its Kearl oil sands project, said Exxon's Vice President for Investor Relations David Rosenthal. The company is among a growing number of oil sands producers that are turning to rail amid uncertainty of the Keystone XL pipeline's approval. "[A]s would be prudent, we are looking at other options including evaluating a project to build a rail terminal in Edmonton and then move some of that crude out of there into the lower [48 states] by rail," Rosenthal said.

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