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CANADA CRUDE-Differentials rise on Fort McMurray wildfire outages

Wed, 04th May 2016 17:29

* June WCS trades at $12.95/bbl below WTI * June synthetic trades at $0.75/bbl above WTI (Adds analyst quote, updates prices) By Nia Williams CALGARY, Alberta, May 4 (Reuters) - Canadian cash crudedifferentials climbed on Wednesday as a wildfire raging in FortMcMurray in the heart of Alberta's oil sands region forced someprojects to cut production so workers could evacuate. The city's population of around 88,000 was ordered to leaveimmediately on Tuesday evening as the fire breached city limitsand ripped through some neighborhoods. Although the blaze is not directly threatening any oil sandsfacilities, Suncor Energy Inc said it was reducingregional production and Royal Dutch Shell PLC said itwas shutting down its two oil sands mines. Other companies operating nearby including Canadian NaturalResources Ltd and CNOOC Ltd subsidiary NexenEnergy said their operations were not affected. The reduced oil sands production helped prop up benchmarkCanadian cash grades, as well as put a support under globalprices, though analysts and traders said the boost would likelybe short lived. "My feeling is that this has minimal impact on productionlonger term," said Tim Pickering, founder and chief investmentofficer at Auspice Capital Advisors in Calgary. "When we thinkabout taking production offline, there's still a significantamount of oil in storage. That's a big cushion." Light synthetic crude from the oil sands for June deliverylast traded at 75 cents per barrel above the West TexasIntermediate benchmark, climbing from a 5-cent discountthe previous day. Western Canada Select heavy blend crude for June deliverylast traded at $12.95 a barrel under the benchmark after tradingas much as $12.80 a barrel discount, according to Shorcan Energybrokers. It settled on Tuesday at $13.35 per barrel under WTI. (Additional reporting by Catherine Ngai in New York; Editing byJames Dalgleish and Meredith Mazzilli)

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UPDATE 3-Chevron, Exxon are among top spenders at Biden offshore auction

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17 Nov 2021 14:52

EXECUTIVE CHANGES: Deliveroo adds Flutter CEO to board; new Quarto CEO

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17 Nov 2021 10:07

UPDATE 1-LNG industry launches 'carbon neutral’ framework

(Adds context, rics to wider audience)By Susanna Twidale and Marwa RashadLONDON, Nov 17 (Reuters) - An international liquefied natural gas (LNG) body on Wednesday launched a framework for rules to declare cargoes carbon neutral as it seeks to make ...

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17 Nov 2021 08:01

Russia's Rosneft acquires Shell's 37.5% stake in German refinery PCK Schwedt

MOSCOW, Nov 17 (Reuters) - Russian oil giant Rosneft has acquired Shell's 37.5% stake in German refinery PCK Schwedt, it said on Wednesday, exercising an option to buy and taking its shareholding to 91.67%.Italy's Eni holds a 8.33% stake in the re...

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15 Nov 2021 18:56

North American natgas traders form company to better process trades

Nov 15 (Reuters) - A group of North American natural gas trading firms said on Monday they formed a new company called Eleox to manage post-trade processes more efficiently.The firms include units of BP PLC, Castleton Commodities International LLC...

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15 Nov 2021 18:22

North Sea Crude-Forties steady, Brent diff edges lower

LONDON, Nov 15 (Reuters) - The North Sea Forties crude differential held steady on Monday while Brent slipped after two deals.* Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the ...

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15 Nov 2021 17:10

LONDON MARKET CLOSE: Miners weigh on FTSE 100; Shell simplifies

LONDON MARKET CLOSE: Miners weigh on FTSE 100; Shell simplifies

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15 Nov 2021 13:41

Shell shake-up leaves Dutch royally hacked off

By Toby SterlingAMSTERDAM, Nov 15 (Reuters) - Royal Dutch Shell's decision https://www.reuters.com/world/uk/shell-proposes-single-share-structure-tax-residence-uk-2021-11-15 to move its corporate headquarters and tax base to London may win over sha...

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15 Nov 2021 12:37

GLOBAL MARKETS-Upbeat China data bolsters sentiment, oil tumbles

* China data lifts sentiment, boosts Aussie dollar* Sentiment in Europe tempered by rising COVID infections* Oil prices down more than 1%* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn* Graphic: World FX rates http://tmsnrt.rs/2egbfVh (...

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15 Nov 2021 12:16

Shell to move head office to the UK, drop dual share structure

(Sharecast News) - Royal Dutch Shell is to overhaul its complex corporate structure, including shifting its headquarters to the UK and changing its name.

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15 Nov 2021 12:04

LONDON MARKET MIDDAY: Caution sets in ahead of UK inflation, jobs data

LONDON MARKET MIDDAY: Caution sets in ahead of UK inflation, jobs data

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15 Nov 2021 11:05

TOP NEWS SUMMARY: Shell simplifies; BBVA and Heineken buy

TOP NEWS SUMMARY: Shell simplifies; BBVA and Heineken buy

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15 Nov 2021 10:43

UPDATE 2-European stocks clock fresh record highs; miners slide

* STOXX 600, DAX, CAC 40 hit record highs* Airbus boosts French stocks* BBVA drags down Spanish benchmark index (Adds comments, updates prices throughout)By Anisha Sircar and Shreyashi SanyalNov 15 (Reuters) - European shares hit another record peak...

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15 Nov 2021 10:07

UPDATE 2-Cineworld, CMC markets help UK midcaps outperform bluechip FTSE 100

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Shell climbs on plans for single-share structure* CMC soars on plans to split into two* Cineworld jumps on box office revenue recovery* FTS...

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15 Nov 2021 09:37

UPDATE 1-Dutch government 'unpleasantly surprised' by Shell HQ move to Britain

(Updates with details of Dutch tax issues)AMSTERDAM, Nov 15 (Reuters) - The Dutch government said on Monday it was "unpleasantly surprised" by news that Royal Dutch Shell PLC is planning to move its headquarters to London from The Hague."The Cabin...

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