01 August 2013 21:09 [Source: ICIS news]
HOUSTON (ICIS)--Marathon Petroleum has displaced most of the foreign sweet crudes coming in to its recently purchased Galveston Bay refinery in Texas with more US domestic crudes, a company executive said on Thursday.
However, the decision was based mainly on market conditions and could be reversed.
“So it’s not to say we won’t run the foreign cargo crude, but we’re always looking for the best barrels,” said Marathon’s Michael Palmer, senior vice president of supply distribution and planning, during the company’s second quarter earnings conference call. “We think going forward, domestic is where it’s at.”
On 1 February, Marathon completed the purchase of the 475,000 bbl/day refinery from BP. The refinery ranks as the third largest for processing capacity in the US.
The company has also increased its exports of light products, such as diesel fuel, from the Galveston Bay refinery and the Garyville refinery in Louisiana, according to executives.
“Light product exports from our Garyville and Galveston Bay refineries increased significantly to 190,000 bbl/day during the second quarter of 2013, which is the highest level of exports we have achieved,” said Marathon CEO Gary R Heminger.
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