Building a world of
resilient communities.



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.


Transition from Oil  

Mark Lewis, Former senior analyst for energy, climate, and sustainability …

For Storing Electricity, Utilities Are Turning to Pumped Hydro

But utilities from Spain to China are increasingly relying on pumped storage …

Peak Oil Review - Nov 30

 A weekly update, including:-Quote of the Week -Oil and the Global …

Peak Oil Notes - Nov 27

A midweek roundup. There has been a lot of news to move the oil markets in …

The "Syrian Sickness": What Crude Oil Gives, Crude Oil will Take Away

Crude oil had created modern Syria, crude oil has destroyed it.

Drought Influenced Syrian Civil War; So What, Says U.S. Congress

This singular thought, that climate change can stir dangerous human …

Peak Oil Review - Nov 23

A weekly roundup of peak oil news, including: -Quote of the Week -Oil and …