NuStar Drops Crude Deal With PDV

摘要

US oil company NuStar Energy said on Friday it had agreed to sever a crude supply contract with Venezuela's state-run PDV 15 months early, a move sources said would allow it to use cheaper Canadian crude for its East Coast asphalt plants. While the 30,000 b/d supply contract is equivalent to only about 4% of total US imports from Venezuela, the decision to end the contract is the latest sign of how growing North American oil production is reducing imports and giving refiners more options (OD Oct.31'13).