Home › Forums › Refining Community › Refinery News › Analsyst say Venezuela unlikely sell US Citgo soon › RE: Analsyst say Venezuela unlikely sell US Citgo soon
Here is article and table on US Refineries importing PDVSA Venezuelan crude which would be on percentage basis = Citgo @ 26.37%, Conoco 18.16%, LyondellBasell 18.14%, Hovensa 19.08%, Marathon 2.5%, Nustar 4.19%, Total 0.18% and Valero 8.79%. It should be noted that lot US Refineries have been idled or shutdown for economic reasons and projects during 2010 and so the volumes are likely lower than full year or historic utilization levels. The majority of the refineries taking in Venezuelan crude have cokers – with exception of Nustar’s Asphalt refineries and few others.
It is clear that 1/4 of Venezula import goes to Citgo that PDVSA plans to sell and major portion of remaining volume goes to former owned or partner companies who have had assets nationalized in Venezuela (COP, LyondellBasel, Total, Hovensa & Nustar) and less than 10% goes to opportunity importers. Noticeably absent are any imports to the Citgo Lemont Refinery (which was also reason for recent sale its % of German Ruhr Oel to Russia’s Rosneft = processed no PDVSA crude)