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.


Review: 7 key scenes in Leonardo DiCaprio’s climate film Before the Flood

Before the Flood, a new feature-length documentary presented and produced by …

Transition in Cities  

It is widely assumed that the ongoing migration of rural peoples to …

Peak Oil Review: A Midweek Update - 20th Oct 2016

 A midweek update. This week’s EIA stocks report gave a …

Oil & Money: Tackling Corruption and Climate Change

This week, senior executives of the oil and gas industry will be meeting at …

CCC: UK must Act Now to Secure Zero-Carbon Heat by 2050

UK heating must be virtually zero-carbon by 2050, says the Committee on …

Peak Oil Review - Oct 17, 2016

 A weekly roundup of peak oil news, including: -Quote of the week …

Deepwater Horizon and our emerging 'normal' catastrophes

We think of the world we live in as static and linear rather than dynamic …