Oilsands producers reported lower-than-expected earnings in 3Q,as ongoing curtailment cuts by the Albertan government combined with difficulty in moving Canadian crude to the US Gulf Coast(USGC)weighed on earnings.Imperial Oil Ltd.reported a 43% year-on-year decline in 3Q net income to CJ424MM($322MM)due to higher Canadian crude prices,which weighed on refining margins,and increased expenses.Imperial said earnings from its downstream business fell almost 56% to C$221MM($168MM)as refining throughput declined from 388K b/d in 3Q 2018 to 363K b/d and refined product sales fell from 516K b/d to 488K b/d.Upstream output rose from 393.0K boe/d to 407.0K boe/d from 3Q 2018.Crude-by-rail(CBR)shipments decline from 64.0K b/d in 2Q 2019 to 52.0K b/d in 3Q,as rising prices for Canadian crude has made CBR less attractive.
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机译:Ellsands生产商报告了3Q的盈利低于预期,因为艾伯塔顿政府持续削减削减加拿大人难以转移到美国墨西哥湾沿岸(USGC)的困难,称为盈利。报告43% - 年度净收入为CJ424MM(322毫米)的净收入,由于加拿大原油价格更高,这对精炼利润率进行了称重,并增加了开支。从下游业务的收入下降近56%至2亿美元($ 168mm) 精炼吞吐量从2018年3季度3 Q为388K B / D拒绝,363K B / D和精致的产品销售从516K B / D降至488K B / D.UPStream输出从393.0K Boe / D到407.0k Boe / D从2018年3季度开始 逐轨(CBR)出货量从2019年2季度的64.0K B / D下降到3Q的52.0K B / D,因为加拿大原油的价格上涨使CBR减少吸引力。
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