RE:CJ.....ZERO heavy....50/50 medium/light (see PR)stockfy wrote: Contact the company because I see that some still have no idea about CJ's oil production, including TD of course.
CJ does NOT produce heavy oil. Nothing. Zero. Contact the company.
Based on the official API figures, CJ produces medium oil and light oil. The analogy will be 50/50 in 2018, according to the company's press release.
Also the medium oil does NOT have its own benchmark but uses the WCS (the heavy oil benchmark) as a reference point and adds a Premium, because the medium oil is of better quality than heavy and medium oil's process at the refinery is cheaper than heavy oil's process.
This is why, the medium oil (including CJ's medium oil) is sold at a PREMIUM to WCS.
This is why, CJ does not receive WCS pricing but receives a PREMIUM to WCS for its medium oil, read the quarterly reports.
They are just some guys who sold and looking for a lower entry point, nothing more.