13 March 2013 17:46 [Source: ICIS news]
TORONTO (ICIS)--US refining major Valero is planning to supply its 265,000 bbl/day refinery at ?xml:namespace>
Valero spokesman Bill Day told ICIS that the company received permission from US authorities to export by ship up to 90,000 bbl/day of oil from
The move comes as Valero's is seeking to replace a part of the expensive Brent-priced crude oil it currently imports to feed the
In addition, Valero is interested in bringing in crude oil via pipeline from western
“There is a lot of lower-cost North American crude that is becoming available, but the difficulty is working out the logistics to get it to the refineries,” Day said.
Day was commenting on a Canadian media report that said Valero could soon bring in a first shipment of crude from the Eagle Ford basin in
The refinery receives crude oil by ship at its deepwater dock on the
Valero's move to supply Levis with oil shipped in from Texas comes as Canadian oil industry and government officials keep lobbying US authorities and politicians in favour of the long-delayed Keystone XL pipeline - a 1,900km pipeline project that will enable supplies of
US President Barack Obama last year deferred a final approval for Keystone XL, which met with resistance from environmentalists who fear the impact of emissions from
April West Texas Intermediate (WTI) crude was priced at 92.73/bbl, up 19 cents/bbl on Wednesday, while Brent was priced at $109.64/bbl, down 1 cent/bbl, ICIS reported.
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