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MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

MEG Energy Corp. is a Canada-based energy company focused on in-situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the economic recovery of oil. It transports and sells thermal oil (AWB) to customers throughout North America and internationally. The Company owns a 100% interest in over 410 square miles of mineral leases in the southern Athabasca oil region of Alberta, Canada and is primarily engaged in sustainable in situ thermal oil production at its Christina Lake Project. Christina Lake Project is a multi-phased project, located 150 kilometers south of Fort McMurray in northeast Alberta. It comprised of approximately 200 square kilometers of leases.


TSX:MEG - Post by User

Post by ztransforms173on Nov 22, 2024 6:10pm
58 Views
Post# 36326936

WOW ! CNQ And/Or MEG SOLD AWB @ WTI MINUS USD 0.05/Bbl.

WOW ! CNQ And/Or MEG SOLD AWB @ WTI MINUS USD 0.05/Bbl.@ 16:59 EDT:

WTI FEBRUARY 2025:  USD 70.70 per barrel

BRENT FEBRUARY 2025: USD 74.65 per barrel

^^^


China’s Rongsheng Petchem buys heavy oil from Canada and Ecuador for Feb, sources say

 
 



Chinese refiner Rongsheng Petrochemical has purchased a total of 2.65 million barrels of heavy crude oil from the Americas for February delivery, according to trade sources on Friday.

 

These include three Canadian crude cargoes of 550,000 barrels each, set to be exported from the Trans-Mountain pipeline (TMX), as well as 1 million barrels of Ecuadorian Oriente crude, sources said.

Rongsheng does not typically comment on commercial deals.

Vitol and BP each sold one cargo of Canadian Access Western Blend (AWB) crude while ExxonMobil will deliver one cargo of Kearl Lake crude, they said.

The TMX cargoes were sold at a discount of $4 a barrel to ICE Brent on cost-and-freight (C&F) basis, they said.

AWB is a type of heavy and highly acidic diluted bitumen produced by Canadian Natural Resources and MEG Energy while Kearl Lake is of a similar quality.

PetroChina sold the Oriente crude cargo, one of the sources said.

(Reporting by Florence Tan and Siyi Liu; Editing by Sherry Jacob-Phillips)

https://boereport.com/2024/11/22/chinas-rongsheng-petchem-buys-heavy-oil-from-canada-and-ecuador-for-feb-sources-say/

***

- on November 21, 2024, the WTI/WCS Price Differential CLOSED at MINUS USD 12.30 for the January 2025 WTI futures contract

- so TMX  DILUTED BITUMEN EXPORTS means BIG PREMIUM to WCS prices

- CNQ has 164,000 bbls/d TMX CONTRACT CAPACITY

- MEG has 20,000 bbls/d 
TMX CONTRACT CAPACITY 

z173


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