Heavy Canadian Crude Rebounds as Refinery Plans to Restart Unit
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Canadian heavy oil on the spot market strengthened from an all-time low discount to the U.S. benchmark price as BP Plc was said to expect to restart a crude unit tomorrow at its refinery in Whiting, Indiana.
BP shut Pipestill 11C on Dec. 7 for unplanned repairs, a person familiar with operations said today. An attempted restart of the unit, which processes sour crude, was unsuccessful, said the person, who declined to be identified because the information isn’t public.