October 26, 2017 / 3:22 PM / a year ago

Valero says Venezuelan crude supply 'very consistent'

HOUSTON (Reuters) - Leading U.S. refiner Valero Energy Corp said the supply of crude oil from Venezuela has been “very consistent” despite political strife this year in that country.

“Our volumes in Venezuela have been very consistent,” Senior Vice President Gary Simmons said on Thursday. “ ... We’ve been getting the volume and we have seen some degradation in quality, but the commercial terms that we have on our contract with Venezuela have price deductions going along with those qualities. So we really haven’t seen any problems as of yet.”

Reporting by Erwin Seba; Editing by Susan Thomas

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