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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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20 Jan 2022 12:01

LONDON MARKET MIDDAY: FTSE 100 stalls as AB Foods drags on index

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20 Jan 2022 09:54

UPDATE 2-Oil stocks, GSK weakness pull FTSE 100 lower; Deliveroo jumps

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Deliveroo fourth-quarter order growth jumps* Premier Foods top midcap gainer on strong profit outlook* Unilever abandons plan to buy GSK's ...

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19 Jan 2022 21:37

Shell to carry out Pernis, Netherlands oil refinery maintenance until end of June

AMSTERDAM, Jan 19 (Reuters) - Royal Dutch Shell said on Wednesday it plans to carry out major maintenance work at its Pernis oil refinery in the Netherlands in the coming five months."We will inspect a large number of installations from the insid...

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19 Jan 2022 08:56

LONDON MARKET OPEN: FTSE 100 steady despite UK inflation intensifying

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18 Jan 2022 17:05

LONDON MARKET CLOSE: Stocks fall on worries over higher interest rates

LONDON MARKET CLOSE: Stocks fall on worries over higher interest rates

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18 Jan 2022 13:08

UPDATE 1-Norway awards 53 new petroleum production licences

(Adds detail, quotes)OSLO, Jan 18 (Reuters) - Norway awarded 53 new petroleum production licences on the Norwegian continental shelf in the latest licensing round for mature areas, the oil and energy ministry said on Tuesday.Stakes were offered to...

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18 Jan 2022 13:00

Angry investors seek to appoint board member to Third Point UK fund

LONDON, Jan 18 (Reuters) - Activist investors in Third Point's London-listed fund want independent director Richard Boleat appointed to the board to improve corporate governance, they said in a letter to shareholders on Tuesday.Third Point Investo...

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18 Jan 2022 12:51

UPDATE 2-Climate activists lose court case against UK oil regulator

(Adds reaction from government minister)By Shadia NasrallaLONDON, Jan 18 (Reuters) - A UK High Court on Tuesday threw out a case brought by climate activists against the country's oil and gas regulator OGA, rejecting their argument that the OGA's ...

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18 Jan 2022 12:51

UPDATE 1-Climate activists lose court case against UK oil regulator

(Add climate activists' response)By Shadia NasrallaLONDON, Jan 18 (Reuters) - A UK High Court on Tuesday threw out a case brought by climate activists against the country's oil and gas regulator OGA, rejecting their argument that the OGA's actions...

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18 Jan 2022 12:14

LONDON MARKET MIDDAY: Markets red as inflation worries return to fore

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18 Jan 2022 09:44

LONDON BROKER RATINGS: Goldman Sachs raises BT to Conviction Buy

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18 Jan 2022 09:03

LONDON MARKET OPEN: FTSE 100 slips despite oil boosting BP and Shell

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17 Jan 2022 10:33

UPDATE 2-Oil majors, Iberdrola among winners set to harness Scottish wind

(Updates throughout)By Nina ChestneyLONDON, Jan 17 (Reuters) - Utility Iberdrola and oil majors BP and Shell are among companies offered seabed rights to develop offshore wind projects in the first tender of its kind in over a decade, Crown Estate...

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17 Jan 2022 10:33

UPDATE 3-Scottish wind sale nets nearly $1 billion with Shell, BP among winners

(Adds comment from Shell, BP, analysts)By Nina ChestneyLONDON, Jan 17 (Reuters) - BP, Shell and utility Iberdrola were among the winners of seabed rights to develop Scottish offshore wind projects, in an auction which raised nearly 700 million pou...

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17 Jan 2022 10:33

UPDATE 1-Crown Estate Scotland offers 17 projects seabed rights for offshore wind

(Adds more detail)By Nina ChestneyLONDON, Jan 17 (Reuters) - Crown Estate Scotland said on Monday it has offered seabed right agreements to 17 projects in its ScotWind leasing round which is aimed at supporting wind energy development.Out of 74 ap...

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