The downstream operators seemed to have
settled on the Mars crude for now. Mostly scooped up from the offshore Gulf of
Mexico fields, this variety (produced chiefly by integrated majors Shell and
BP) has seen its demand take off lately. Named after the Mars development – a
joint venture between Shell and BP situated around 130 miles from the coast of
New Orleans – it is a type of U.S. heavy oil that is currently being used by
the refiners as a replacement of the Venezuelan imports. More…
Thursday, March 28, 2019
How Venezuela's Loss Is Turning into Shell and BP's Gain
The downstream operators seemed to have
settled on the Mars crude for now. Mostly scooped up from the offshore Gulf of
Mexico fields, this variety (produced chiefly by integrated majors Shell and
BP) has seen its demand take off lately. Named after the Mars development – a
joint venture between Shell and BP situated around 130 miles from the coast of
New Orleans – it is a type of U.S. heavy oil that is currently being used by
the refiners as a replacement of the Venezuelan imports. More…
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