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Considerations When Hiring Professionals In Civil Engineering In Salmon Arm BC March 18 A'Shawn Robinson Color Rush Jersey , 2015 | Author: Stacey Burt | Posted in Education
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TORONTO, May 4 (Xinhua) -- Canada's main stock market in Toronto dipped lower Wednesday when some Canadian oil and gas companies are curtailing production at their facilities north of Fort McMurray amid the raging wildfire in the northern Alberta area.

The Toronto Stock Exchange's benchmark Standard & Poor'sTSX Composite Index lost 75.68 points, or 0.55 percent, to close at 13,632.00 points. Half of the TSX index's eight main sub-sectors were lower.

Prospects for curtailed production as a result of Fort McMurray fires was being closely watched by traders, who drove up prices after two days of losses.

Oil prices traded mixed on Wednesday as data showed U.S. crude inventories continued to rise. Texas light sweet crude for June delivery moved up 0.13 dollars to settle at 43.65 dollars a barrel, while Brent crude for June delivery declined 0.35 dollars to close at 44.62 dollars a barrel.

Operations at oil sands facilities near the wildfire that has put Fort McMurray under an evacuation order are safe from the flames for now, but nearby work camps being converted into housing for evacuees.

As emergency fire crews work to contain the wildfire, which has already destroyed nearly 100 square kilometers and displaced over 88,000 people. Oilsands operators said Wednesday the fire doesn't pose an imminent threat, but they are taking every precaution and helping where they can.

Suncor Energy Inc. said it is reducing production at its regional facilities so as ""to allow employees and their families to get to safety."" Suncor shares fell 2.20 percent to 34.18 Canadian dollars (26.56 U.S. dollars).

Early Wednesday, Suncor said its base plant, its main oil sands site, is still in safe condition. The company said it is coordinating the shift requirements at the facility about 25 kilometres north of Fort McMurray for immediate needs only.

Investors are waiting for more information on how much Suncor is curtailing operations, and whether other companies in the oil sands region will join it. ""If more companies say they are shutting down production, the market will continue to get a boost from it,"" said Gene McGillian, analyst with Tradition Energy of Stamford.

Shell Canada has shut down production at its Albion Sands mining operations, which can produce up to 255,000 barrels per day, so it can concentrate on getting families out of the region, a company spokesman said in an e-mail message. The Albion operations are not threatened by the fire, he said.

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