Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


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.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Canada Heavy Oil Weakens as Imperial CEO Says Kearl on Schedule

Western Canada Select oil weakened on the spot market as Imperial Oil Ltd. said the Kearl oil-sands project in Alberta is on track to reach its full capacity of 110,000 barrels a day by the end of this year, increasing supplies of Canadian heavy crude.

The first of Kearl’s three mining trains is running, Imperial CEO Rich Kruger said at a conference in Calgary.

“On any given day, as we continue to synchronize, it can be at that capacity, which would be 35,000 to 40,000 barrels a day,” Kruger said. “We’ve had ups and downs in the first few months, not unusual for a project of this size.”

Western Canadian Select heavy oil for September delivery declined 75 cents to a $22-a-barrel discount to U.S. benchmark West Texas Intermediate oil as of 4:24 p.m. New York time, according to Calgary oil broker Net Energy Inc. The grade, a blend of heavy oils including oil-sands bitumen like that produced at Kearl, also weakened by 20 cents to a $16.45-a-barrel discount for August delivery.

Kruger said Imperial is in the final stages of commissioning Kearl’s second and third trains.

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.