Building a world of
resilient communities.

MAIN LIST

 

Conoco refuses Saudi offer of extra oil -trader

NEW YORK - U.S. oil refiner ConocoPhillips turned down an offer to take extra oil from top OPEC exporter Saudi Arabia because the oil was too heavy a grade, a trader at the company said on Tuesday.

"We are full of heavy grades, we really didn't have the appetite for any more," said the trader.

The trader said even with Saturday's outage of the U.S. Gulf Mars platform for up to three weeks, Conoco's supplies were adequate.

"There will be some minor cutbacks in deliveries, but not significant enough to impact refining operations," said the trader about the Mars outage.

U.S. refiners said they were contacted last week by Saudi Aramco President Abdullah Jumah to take extra barrels loading in June outside of term contracts.

On Monday, Valero Energy Corp. (nyse: VLO - news - people) said it will receive 1.5 million to 3.0 million extra barrels of crude outside of term contracts loading in June from Saudi Arabia.

The barrels, coming in three to six cargoes, will be a mix of heavy grades and medium grades and load sometime June, said Valero spokeswoman Mary Rose Brown.

Copyright 2004, Reuters News Service

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Peak Oil Review - Mar 30

A weejly review including Oil and the Global Economy, The Middle East & …

Why This Tea Party Leader Is Seeing Green on Solar Energy

As a founder of the Tea Party movement, Debbie Dooley may be an unlikely …

2014 biggest year ever for solar, but oil price threat looms

Will only time tell whether it will be enough to keep solar panels cheap …

Rethink the Grid: Personal Power Stations

Rethinking the grid is quickly emerging as one of the hottest topics.

Goldilocks Is Dead

For oil, the Goldilocks zone has ceased to exist. This will have staggering …

US enters undulating crude oil production plateau in 2015

Feel-good-outlooks make the TV audience happy, but sleepy.

Global Shale Fail: Oil Majors Leaving Fracking Fields Across Europe, Asia

As Post Carbon Institute has pointed out in two major reports, estimated …