Stories tagged with "heavy sour crude"
Feeding the Beast
Posted by Dave Cohen on July 18, 2006 - 5:34pm
Topic: Demand/Consumption
Tags: forward contracts, heavy sour crude, light sweet crude, price exposure, refiners, spot market, supply chain, valero [list all tags]
The title comes from this excellent article from MyWestTexas, Valero trading room grapples with 'Feeding the Beast' (reprinted from the San Antonio Express News):
On the sprawling trading-room floor at Valero Energy Corporations's headquarters, planners, traders and their bosses grapple every day with a task they call "feeding the beast."And today we learn that the US consumption beast is not the only thing Valero is feeding. DoD awards Valero contract to ship jet fuel to Israel.Valero's 18 refineries chew through 3.3 million barrels of crude oil a day, oil that the San Antonio-based company buys from around the world.
The Department of Defense has awarded Valero Energy Corp. a $36.8 million contract to supply military-grade jet fuel to the government of Israel -- the United States' key ally in the Middle East.How's Valero doing? Let's talk briefly about how this refining and retail company does business under the current oil and gasoline market conditions.
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