Company News

BUZZ-CN Rail sees new revenue of up to C$400 mln from 2020-2022 crude shipments

** Canada’s largest railroad operator forecasts incremental revenue of up to C$400 mln ($299 mln) from crude shipments between 2020 and 2022

** CNR expects C$450 mln to C$1.15 bln in new revenue specifically tied to energy products between 2020 and 2022 - exec says at company’s investor day

** CNR and rival Canadian Pacific Railway Ltd have benefited from a surge in demand for crude-by-rail shipments as Canadian oil producers battle pipeline congestion and environmental opposition to new projects

** Peak crude-by-rail shipments expected for next 1-2 years - CNR

** Also between 2020 and 2022 co expects revenue of C$200-C$300 mln in frac sand and NGLs, C$150-C$250 mln in coal and pet coke, C$100-C$200 mln in refined petroleum products & sulphur

** Shares of the company were up marginally at C$120.86

** Including Tuesday’s gains, CNR up 19.2% YTD, while CP up 24.3% ($1 = C$1.34) (Reporting by Shanti S Nair in Bengaluru)