Phillips 66 expects no disruption to crude supplies after U.S. sanctions on PDVSA

Reuters

(Reuters) - Phillips 66 said on Monday it could mitigate any disruption in the crude supply of its refining business from U.S. sanctions on Venezuela's state-owned oil company PDVSA because it would use alternative sources of crude. Venezuelan crude has made up only a small percentage of Phillips 66's total oil supply, the company added. The Houston oil refiner imported 552,000 barrels per day of Venezuelan crude in April, but otherwise did not import crude from the Latin American country in 2018, according to Refinitiv Eikon trade flows data. (Reporting by Collin Eaton; Editing by James Dalgleish)