Reuters logo
Phillips no longer importing sweet crude to US Gulf Coast-CEO
January 30, 2013 / 4:20 PM / 5 years ago

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

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.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below