Dense, sticky and heavy: why Venezuelan crude oil appeals to US refineries

South American nation’s tar-like oil is what many Gulf coast facilities were built for but ramping up production to 3m barrels a day will be a long gameClustered along the US Gulf coast are some of the largest and most complex heavy-oil refineries in the world. These sprawling industrial hubs, owned by major US oil companies, stand ready to emerge as some of the major victors of Donald Trump’s swoop on Venezuela.In some ways, these refineries are a relic of another time; built to process the heavy, unctuous crude imported from Latin America before the boom in lighter US shale oil emerged earlier this century. Continue reading...