Crude News Dump

Discussion in 'Commodity Futures' started by The Kin, Aug 17, 2005.

  1. Post all future breaking news stories about Crude here so we can all buy and pump up the price and in the process make me and others long oil very very rich.
  2. i bought some vlo down a buck ah on the cramer sell. we will see if this will help.

    Fire forces partial shutdown of Venezuela's largest refinery
    08.17.2005, 10:20 PM

    CARACAS (AFX) - A brief fire has forced the partial shutdown of Venezuela's Amuay oil refinery, an official of the state-owned oil company Petroleos de Venezuela (PDVSA) said.

    The fire, which occurred in one of the refinery's pipes, has already been put out, Jesus Luongo, manager of the Paraguana refining complex where Amuay is located, told Union Radio.

    It is unclear how extensive the blaze was but Luongo said a decision had been made to cut refining capacity from 410,000 barrels per day to 150,000 barrels.

    He added that workers had also adjusted refining activities in other units to evaluate the damage.

    The massive Paraguana complex, one of the world's largest refining installations, has a stated capacity of 940,000 barrels a day.
  3. tomcole


    I think VLO processes Venezuelan crude, which is heavy. Venezuela has also begun a political journey of trying to sell of their US asetts and has said they would like to stop selling crude to the US. Valero would be the prime loser in all this - so - lots of reasons not to own Valero. Just MHO, though. Good luck.
  4. Crude has pissed me off the last couple of days. :mad:
  5. Ebo


    Crude is like trading an internet stock in 1999!
  6. looks like today is payday. vlo trading 87 premarket.
  7. Smiles. :)
  8. Unless Chavez decides that he is going to hold all of PDVSA's production for domestic consumption/storage, the crude that is currently coming to the US from Venezuela will most likely still end up in the US.

    At the end of the day PDVSA's crude will go the the highest bidder, regardless of his/her location.
  9. Hurricanes make me hard...

    Looks like that TS about to hit Florida will head to the gulf. Oil is spiking as a result and could close at an all time high again.