A massive Spanish refiner is looking to buy more than 2 million barrels of Canadian oil a month..The move comes after a refiner in India signed a six month deal for heavy oil from Canada..The deals have been done, in part, because of the threat of more U.S. sanctions against Venezuela, reports Bloomberg..“Repsol SA is in talks with trading houses and producers for a contract to buy as much as 2 million barrels of Canadian oil a month, according to people familiar with the matter, who spoke on condition of anonymity,” reported Bloomberg..“Spain’s biggest oil company is following in the footsteps of India’s Reliance Industries Ltd., which recently signed a six-month purchase deal for heavy Canadian oil.”.The deals have also been made because it’s expected exports from Mexico will increase in price next year.. POLL: Many Albertans say they will ignore Christmas COVID lockdown .Repsol has been Mexico’s biggest customer while being Venezuela’s third best..The Madrid-based company has five refineries in it’s country..Dave Naylor is the News Editor of the Western Standard.dnaylor@westernstandardonline.com.TWITTER: Twitter.com/nobby7694
A massive Spanish refiner is looking to buy more than 2 million barrels of Canadian oil a month..The move comes after a refiner in India signed a six month deal for heavy oil from Canada..The deals have been done, in part, because of the threat of more U.S. sanctions against Venezuela, reports Bloomberg..“Repsol SA is in talks with trading houses and producers for a contract to buy as much as 2 million barrels of Canadian oil a month, according to people familiar with the matter, who spoke on condition of anonymity,” reported Bloomberg..“Spain’s biggest oil company is following in the footsteps of India’s Reliance Industries Ltd., which recently signed a six-month purchase deal for heavy Canadian oil.”.The deals have also been made because it’s expected exports from Mexico will increase in price next year.. POLL: Many Albertans say they will ignore Christmas COVID lockdown .Repsol has been Mexico’s biggest customer while being Venezuela’s third best..The Madrid-based company has five refineries in it’s country..Dave Naylor is the News Editor of the Western Standard.dnaylor@westernstandardonline.com.TWITTER: Twitter.com/nobby7694
