Phillips no longer importing sweet crude to US Gulf Coast-CEO

HOUSTON Wed Jan 30, 2013 11:19am EST

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HOUSTON Jan 30 (Reuters) - Phillips 66, the second-largest U.S. independent refiner, has completely stopped importing light sweet crude to the U.S. Gulf Coast, Chief Executive Greg Garland told analysts on Wednesday.

The company has been able to replace those imports with cheaper inland U.S. crude produced in prolific shale plays.

Valero Energy Corp on Tuesday also said it had replaced all imported light foreign crudes with cheaper domestic crude.