Bakken Oil Discount Narrows as Work Will Limit Alberta Output
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The discount for Bakken oil narrowed to the smallest margin since December before work on an Alberta upgrader that will reduce output of Canadian synthetic crudes.
Syncrude Canada Ltd. plans to start work on the 8-3 coker at its upgrader near Fort McMurray, Alberta, by May 4, a person with knowledge of plant operations said in March. Siren Fisekci, a Calgary-based spokeswoman for Canadian Oil Sands Ltd., the joint venture’s largest shareholder, said 60 days of work planned on the coker in the second quarter hasn’t started yet. She declined to disclose dates of the work.