Bloomberg News

Syncrude Weakens on Work at BP and Conoco Washington Refineries

March 02, 2012

The discount for Syncrude widened on maintenance at refineries in Washington state owned by BP Plc (BP/) and ConocoPhillips. (COP)

BP said Feb. 29 it’s moving up maintenance at the 234,000- barrel-a-day Cherry Point plant initially planned for later this year because the crude unit is already shut for repairs after a fire Feb. 17.

ConocoPhillips will shut process units a the Ferndale refinery for work scheduled to begin March 15, two people familiar with the maintenance said.

Syncrude (USCSSYNS)’s discount to West Texas Intermediate futures widened $2.25 to $5 a barrel at 2:07 p.m. in New York, according to data compiled by Bloomberg.

Western Canada Select (USCSWCAS)’s discount widened 75 cents to $32 a barrel. Bakken (USCSUHC1) oil was unchanged at $16.50 a barrel below WTI.

In the U.S. Gulf Coast, Light Louisiana Sweet (USCSLLSS)’s premium to WTI added 60 cents to $18.85 a barrel. Heavy Louisiana Sweet increased 50 cents to a premium of $21.25.

Thunder Horse’s premium to WTI grew 65 cents to $18 a barrel and Mars Blend’s premium added $1.05 to $14. Poseidon (USCSPOSE) gained 95 cents to $13.50 a barrel over WTI. Southern Green Canyon (USCSSGCN)’s premium widened 35 cents to $13.

West Texas Sour (USCSWTSM)’s discount widened 50 cents to $3.90 a barrel.

To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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