23:24:35 EDT Wed 22 May 2019
Enter Symbol
or Name

Login ID:
Oil Summary
Symbol C : *MKTOIL
Recent Sedar Documents

Energy Summary for March 15, 2019

2019-03-15 20:27 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost nine cents to $58.52 on the New York Merc, while Brent for May lost seven cents to $67.16 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.67 to WTI, up from a discount of $10.70. Natural gas for April lost six cents to $2.80. The TSX energy index lost a fraction to close at 155.87.

The big news today in the oil patch was Imperial Oil Ltd.'s (IMO: $36.39) announcement of a roughly year-long (or longer) delay to its Aspen oil sands project. The $2.6-billion, 75,000-barrel-a-day project was originally expected to start production in 2022, according to the final investment decision that Imperial announced a mere four months ago. Imperial now says that too much has changed in these four months. In particular, the Alberta government introduced mandatory production cuts effective Jan. 1, 2019, in a bid to ease the province's crude oil glut and bolster prices. Imperial has criticized the curtailments from the beginning, and is now blaming them and other "industry competitiveness challenges" for Aspen's postponement.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2019 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.