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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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25 Jan 2022 17:05

LONDON MARKET CLOSE: Europe follows NY rebound but Fed jitters linger

LONDON MARKET CLOSE: Europe follows NY rebound but Fed jitters linger

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25 Jan 2022 09:47

Capricorn Energy's Egyptian acquisition exceeding expectations

Capricorn Energy's Egyptian acquisition exceeding expectations

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25 Jan 2022 00:01

UK government commits 32 mln pounds for floating wind projects

By Nina ChestneyLONDON, Jan 25 (Reuters) - The British government said on Tuesday it will commit nearly 32 million pounds ($42 million) to fund the development of floating offshore wind projects to help lessen its dependence on gas, the price of w...

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24 Jan 2022 21:23

Lyondell Houston oil refinery sale in focus ahead of investor call

By Erwin SebaHOUSTON, Jan 24 (Reuters) - Chances for a quick sale of LyondellBasell Industries' Houston oil refinery are dwindling with several other refineries competing for buyers, said people familiar with the matter on Monday.The petrochemical...

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21 Jan 2022 19:17

UPDATE 1-Royal Dutch no more - Shell officially changes name

(Adds details, background)By Ron BoussoLONDON, Jan 21 (Reuters) - Shell officially changed its name on Friday, ditching "Royal Dutch", which has been part of its identity since 1907, following plans to scrap its dual share structure and move its h...

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21 Jan 2022 18:48

Shell officially drops Royal Dutch from name

LONDON, Jan 21 (Reuters) - Shell said on Friday it has officially changed its name from Royal Dutch Shell Plc to Shell Plc as part of its plan to scrap its dual share structure and move its head office from the Netherlands to Britain."Shell annou...

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21 Jan 2022 09:38

LONDON BROKER RATINGS: Berenberg ups Rentokil; Citi cuts Computacenter

LONDON BROKER RATINGS: Berenberg ups Rentokil; Citi cuts Computacenter

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21 Jan 2022 08:30

UPDATE 6-Oil majors TotalEnergies and Chevron withdraw from Myanmar

* Another example of Western firms leaving after coup* Had talked with French, U.S. about targeted sanctions* Was not possible to implement them* Sees junta as here to stay (Adds comment by TotalEnergies, details, bullet points)By Benjamin Mallet an...

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21 Jan 2022 08:30

UPDATE 5-Oil majors TotalEnergies and Chevron withdraw from Myanmar

(Adds PTTEP's reaction, Shell)By Benjamin Mallet and Florence TanPARIS, Jan 21 (Reuters) - Oil majors TotalEnergies and Chevron Corp, partners in a major gas project in Myanmar, said on Friday they were withdrawing from the country, citing the wor...

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20 Jan 2022 20:34

Mexico's Pemex says closes acquisition of Deer Park refinery

MEXICO CITY, Jan 20 (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) on Thursday said it had finalized the complete acquisition of the Deer Park refinery in Texas from Royal Dutch Shell, its longstanding partner at the facility.Pe...

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20 Jan 2022 19:21

UPDATE 3-Shell to supply crude to Pemex's Texas refinery under long-term pact

* Formal handover completed and new directors installed* Mexico to receive up to 230,000 bpd of gasoline, fuels (Adds transfer boosts Pemex in negotiations with suppliers)By Adriana Barrera and Ana Isabel MartinezMEXICO CITY/HOUSTON, Jan 20 (Reuters...

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20 Jan 2022 19:21

UPDATE 2-Shell to supply crude to Pemex's Texas refinery under long-term pact

* Formal handover completed and new directors installed* Mexico to receive up to 230,000 bpd of gasoline, fuels (Adds statements by Shell, Pemex confirming agreement)By Adriana Barrera and Ana Isabel MartinezMEXICO CITY/HOUSTON, Jan 20 (Reuters) - M...

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20 Jan 2022 17:45

Shell, UK regulators revive talks on North Sea gas field development

By Ron Bousso and Dmitry ZhdannikovLONDON, Jan 20 (Reuters) - Royal Dutch Shell and British regulators have revived talks on developing the Jackdaw gas field in the North Sea as the government struggles with soaring gas and power prices, company a...

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20 Jan 2022 17:26

Pemex taking control of Texas refinery on Thursday, sources say

MEXICO CITY, Jan 20 (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) will on Thursday take control of the Deer Park refinery in Texas, after concluding the purchase of Royal Dutch Shell's half of that plant, two people familiar wi...

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20 Jan 2022 17:02

LONDON MARKET CLOSE: FTSE 100 down as BP, Shell and AB Foods weigh

LONDON MARKET CLOSE: FTSE 100 down as BP, Shell and AB Foods weigh

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