Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

Heavy Alberta Oil Gains as Imperials Says Kearl Likely Delayed

Heavy Alberta oil strengthened after Imperial Oil Ltd said its Kearl oil-sands project that had been scheduled to start production this year may come online in January.

Startup of the oil-sands mine has been slowed because an early winter, Chief Executive Officer Bruce March said following a presentation at the Canadian Association of Petroleum Producers’ investor symposium in Toronto. Imperial planned to begin production at the Kearl site at 110,000 barrels a day by the end of this year, Pius Rolheiser, a company spokesman, said in a July 11 e-mail.

Western Canada Select for January delivery rose 65 cents to a $32.10-a-barrel discount to U.S. benchmark West Texas Intermediate as of 12:06 p.m. New York time, according to Net Energy Inc., a Calgary oil broker. The grade’s February discount narrowed $1 to a $31 discount.

Syncrude’s premium for January delivery gained 95 cents to $2.45 a barrel above WTI, according to Net Energy.

In the U.S. Gulf Coast, West Texas Sour strengthened after Phillips 66 said maintenance at its 146,000 barrel-a-day Borger refinery in Texas had been completed.

West Texas Sour’s discount to WTI narrowed $2 to $15.50 a barrel, according to data compiled by Bloomberg at 1:56 p.m. in New York.

Light Louisiana Sweet’s premium increased $1.15 a barrel to $22.65 above WTI. Heavy Louisiana Sweet rose $1.10 to $22.35.

Poseidon’s premium widened 75 cents to $17.25. Mars Blend increased 85 cents to $17.10 a barrel over WTI, and Southern Green Canyon gained 85 cents to a $18.50 premium.

The premium for Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, widened 75 cents to $19.75 above WTI.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.