Latest news with #GeneralIndex
Edmonton Journal
04-07-2025
- Business
- Edmonton Journal
Financial Post Alberta oil production falls to lowest level since 2023
Article content Alberta's oil production fell to the lowest in two years in May as wildfires and maintenance work crimped oilsands output. Article content Output from Canada's biggest oil-producing province slid 397,000 barrels a day to 3.61 million barrels a day in May, the lowest since May 2023, provincial data released Thursday show. Flows from the oilsands, the world's third-largest reserve of crude, dropped 384,000 barrels a day. Output from oilsands mines slid to the lowest in more than four years. Article content Article content Article content Production was hurt by wildfires, including one near Cold Lake that prompted Cenovus Energy Inc., Canadian Natural Resources Ltd. and MEG Energy Corp. to curtail about 350,000 barrels a day in late May and early June. Oil sands producers also reduced output for maintenance work, with MEG Energy's production dropping to the lowest in data stretching back to 2019. Article content Article content Lower output from Canada, the world's fourth-largest oil supplier and the biggest foreign seller to the U.S., has combined with falling production from Mexico and a ban on Venezuelan flows to strengthen heavy crude oil prices. Article content In Alberta, heavy Western Canadian Select's discount to U.S. benchmark West Texas Intermediate narrowed to less than US$10 a barrel from early April into late June, compared with an average US$15 a barrel in the past five years, according to General Index prices. On the Gulf Coast, Canadian heavy oil's discount to WTI is trading near the smallest since early 2022, according to Link Data prices. Article content
Calgary Herald
03-07-2025
- Business
- Calgary Herald
Financial Post Alberta oil production falls to lowest level since 2023
Alberta's oil production fell to the lowest in two years in May as wildfires and maintenance work crimped oilsands output. Article content Output from Canada's biggest oil-producing province slid 397,000 barrels a day to 3.61 million barrels a day in May, the lowest since May 2023, provincial data released Thursday show. Flows from the oilsands, the world's third-largest reserve of crude, dropped 384,000 barrels a day. Output from oilsands mines slid to the lowest in more than four years. Article content Article content Production was hurt by wildfires, including one near Cold Lake that prompted Cenovus Energy Inc., Canadian Natural Resources Ltd. and MEG Energy Corp. to curtail about 350,000 barrels a day in late May and early June. Oil sands producers also reduced output for maintenance work, with MEG Energy's production dropping to the lowest in data stretching back to 2019. Article content Article content Lower output from Canada, the world's fourth-largest oil supplier and the biggest foreign seller to the U.S., has combined with falling production from Mexico and a ban on Venezuelan flows to strengthen heavy crude oil prices. Article content In Alberta, heavy Western Canadian Select's discount to U.S. benchmark West Texas Intermediate narrowed to less than US$10 a barrel from early April into late June, compared with an average US$15 a barrel in the past five years, according to General Index prices. On the Gulf Coast, Canadian heavy oil's discount to WTI is trading near the smallest since early 2022, according to Link Data prices. Article content
Mint
30-05-2025
- Business
- Mint
Alberta Wildfires Approach Oil Sands, Threaten More Output
(Bloomberg) -- Wildfires in Alberta are threatening almost half a million barrels of daily crude production as heat and wind push the flames closer to massive oil sands well sites. A total of 29 out-of-control fires are burning in the province amid hot, dry weather, bringing flames within 20 kilometers (12 miles) of about 459,000 barrels of daily oil production, according to data from Alberta's energy regulator and wildfire department. The province had only four out-of-control fires on Monday. An expanding fire near Alberta's border with Saskatchewan is the biggest threat to oil output. MEG Energy Corp.'s Christina Lake oil sands facility, which pumped 93,000 barrels a day in April, is within about 4 kilometers of the blaze. MEG said in an email that it has evacuated non-essential workers from the site, but hasn't curtailed production. Part of Canadian Natural Resources Ltd.'s Jackfish oil sands site, which produced almost 38,000 barrels a day in April, is within about 3 kilometers of an expanding fire near Cold Lake, in the heart of the Canadian oil sands, according to Alberta Energy Regulator and Alberta Wildfire data. Other parts of Jackfish that produced a combined 83,000 barrels a day are within about 10 kilometers. CNRL didn't immediately respond to an email seeking comment. Canada, the world's fourth-largest crude producer, has long seen its energy output threatened by wildfires that rage through the dense forests of northern Alberta in spring and summer. In 2016, a blaze shut down the massive oil sands mines just north of Fort McMurray, taking more than 1 million barrels of daily production offline. The situation is strengthening prices for Canada's oil. Canadian heavy crude for July traded at a discount to the US benchmark West Texas Intermediate of as little as $8.70 a barrel on financial markets versus $9.30 on Thursday, according to a person familiar with prices and General Index prices compiled by Bloomberg. Fire danger across most of Alberta is still considered extreme today, according to Natural Resources Canada, though it's expected to subside somewhat over the weekend as the weather shifts, bringing cooler temperatures and a chance of rain by Sunday. Meanwhile, fire crews in northern Saskatchewan and Manitoba are facing 'very, very bad conditions' as gusty winds continue to scour the region, said Paul Pastelok, a senior meteorologist for AccuWeather Inc. Those dry gusts can make it challenging to gain control over existing fires and may also spread embers, Pastelok added, sparking new blazes. Smoke from the fires is expected to drift across the US Upper Midwest Friday, causing hazy skies and somewhat reduced air quality in Chicago and Minneapolis. 'You can get a whiff of that smoke coming down to the ground,' Pastelok said, 'but it won't be as strong as what they've gone through in past years.' --With assistance from Mia Gindis. (Updates with map, heavy Canadian crude price in sixth paragraph) More stories like this are available on
Business Wire
20-05-2025
- Business
- Business Wire
General Index & ATOBA Energy Announce SAF Pricing Partnership
LONDON--(BUSINESS WIRE)-- General Index (GX) and ATOBA Energy are excited to announce their strategic partnership, bringing a brand-new vision of how Sustainable Aviation Fuel (SAF) benchmarks are built. SAF indexes need to be tailored to the unique cost profiles of diverse production technologies, delivering the right information required to scale the SAF industry for aviation goal of net zero by 2050. 'Creating transparent and technology-specific SAF price benchmarks is critical to scaling sustainable aviation fuel markets" Share For more than half a century, the aviation industry has relied on traditional price reporting services to manage exposure to price risks in the fossil jet fuel market. But the SAF revolution demands a new approach. Unlike traditional fuels, SAF can be produced from a wide variety of certified technologies, each with distinct feedstocks, costs, CO2 reduction capabilities and production scalability – and, at the end, producing similar drop-in aviation fuels. A one-size-fits-all SAF index isn't fungible in this complex emerging market. ATOBA recognises that the immediate hurdle to overcome is unlocking investment and building confidence in bankable long-term offtake agreements for new production facilities. A key enabler to overcoming this challenge is bringing transparency and a level playing field to the industry through the creation of new SAF price indexes, developed by General Index. Each index will be designed to reflect the unique cost profile of the diverse SAF technologies and aggregated to create a benchmark that aligns with regulatory frameworks, regional nuances and market needs. Neil Bradford, CEO & Founder, General Index, said: ' Creating transparent and technology-specific SAF price benchmarks is critical to scaling sustainable aviation fuel markets. We're already a benchmark partner to the European Commission for the official 2024 Aviation Fuels Reference Prices for ReFuelEU Aviation. Now, by partnering with ATOBA Energy, we're helping to build the foundational infrastructure needed to attract investment, support offtake agreements, and accelerate the aviation industry's transition to net zero.' Arnaud Namer, CEO & Co-Founder ATOBA Energy, said: ' Unlocking investment in sustainable aviation fuel starts with transparency, market confidence, and trusted pricing tools. That's why we're proud to partner with General Index to introduce a new generation of SAF price benchmarks tailored to the real cost structures of emerging SAF technologies. These benchmarks are critical to ensuring SAF is competitively priced for airlines—an advantage we deliver thanks to our diversified portfolio of best-in-class SAF producers and long-term offtake aggregation strategy.' About General Index General Index (GX) is a benchmark provider for the commodities markets. GX produces over 4,200 daily price benchmarks in crude oil, refined products, and energy transition markets. Our daily energy prices are calculated algorithmically based on thousands of trades collated from +250 data partners, using consistent methodology and a compliant approach aligned with IOSCO and FCA requirements. We use a rigorous and consistent methodology frameworks to produce all our indexes, augmented by methodology factsheets outlining the specifications of each index. GX's global aviation solution includes an extensive offering to the aviation industry of over 300 indexes, covering spot prices, histories and forward curves. Benchmarks are provided for the global fossil jet fuel markets, sustainable aviation fuel (SAF) sector, and voluntary and compliance emissions markets, including CORSIA. First-generation SAF prices reflect production costs, nascent spot markets, and freight-derived pricing captures trade flow dynamics from key supply centres to demand destinations. We also assess a range of feedstocks relevant to SAF production, including UCO, tallow and ethanol. This service is accessible via the web-based platform GX Go and API. For further information contact info@ About ATOBA Energy ATOBA is the midstream Sustainable Aviation Fuel (SAF) aggregator focused on accelerating the aviation industry's energy transition through solving the financial dilemma between airlines and producers. ATOBA provides long-term SAF contracts to airlines and jet-fuel resellers at optimized market SAF pricing indexes. The company brings high security and competitiveness to the SAF supply chain for its airline partners via offtake from diversified producers and technologies, as well as best-in-class sector expertise. Simultaneously, ATOBA's aggregation strategy allows the SAF industry to scale by providing producers with long-term offtake agreements that support their Final Investment Decisions for their SAF production plants. For further information contact info@
Jordan News
11-05-2025
- Business
- Jordan News
Amman Stock Exchange Closes Sunday Trading with 0.08% Gain - Jordan News
Amman Stock Exchange Closes Sunday Trading with 0.08% Gain The Amman Stock Exchange (ASE) closed Sunday's trading session on a positive note, with the General Index rising by 0.08% to reach 2,546 points. Total shares traded: 4.3 million Trading value: JD 10.2 million Number of transactions: 2,539 deals Out of the traded companies: 35 stocks gained, 26 stocks declined, 24 stocks remained unchanged. اضافة اعلان
