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RE: Update – COP Exercising Option Buy Sweeny JV fromPDVSA

Home Forums Coking News: DCU, Upgrader 1.Coker (registered users only) Update – COP Exercising Option Buy Sweeny JV fromPDVSA RE: Update – COP Exercising Option Buy Sweeny JV fromPDVSA

#6011

Anonymous

No technically it is correct – but if you stretch the edges then you have a point, but it is outside the contex of the news item. The Chalmette Refining LLC is JV coking asset (refinery is XOM) set up to take blended syncrude off the PDVSA/XOM JV Upgraer asset Cerro Negro. But if you are going to say taking in few spot cargoes is same as contract flow then you are either crazy or working for PDVSA.
 
XOM disputed the PDVSA takeover of its JV assets, for time had freeze on up $12B PDVSA assets, and PDVSA even talked swaping its 60% Chalmette asset for XOM’s part in Cerro Negro & other assets but it never went far. XOM stopped taking “contract crude” during the dipute & PDVSA even tried for while to get its people appointed in charge of Chalmette Refining Operations to get crude flowing again. <Several news updates are on Coker/Refinery/UPgrader news items – course they wont have the PDVSA biased perspective of truth on the matter.>
 
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