Refiner Marathon to replace Venezuela crude with Middle East, Latin America imports

(Reuters) - U.S. refiner Marathon Petroleum Corp would replace crude oil from Venezuela with imports from the Middle East and Latin America, a top company executive said.

“We see those replacement barrels being...Arabian Gulf barrels, as well as predominantly, Latin American barrels,” Rick Hessling, a senior vice president at Marathon’s MLP unit, said on a post-earnings conference call.

The U.S. imposed sweeping sanctions on Venezuela’s state-run oil company PDVSA last week to curb OPEC members’ crude exports to the United States and pressure Venezuela’s socialist President Nicolas Maduro to step down. (Reporting by John Benny in Bengaluru; Editing by Shinjini Ganguli)

From the Archive

Comments