"The world is still processing the nighttime raid on Venezuela by U.S. forces on Saturday, capturing President Nicolás Maduro and his wife, and flying them to New York to face narcoterrorism and drug conspiracy charges. President Trump stated the U.S. would run Venezuela until a transition could happen, aiming to access its oil. Venezuela holds the world's largest proven oil reserves at 303 billion barrels, but because it is mostly extra-heavy crude, it requires specialized refining."
"This makes it cheaper to buy but requires complex, high-capacity refineries - such as cokers and hydrocrackers - to profitably convert it into valuable products like gasoline, diesel, and jet fuel. Louisiana is the ideal destination for this oil. Located on the Gulf of America, the state hosts 15 refineries with over 3 million barrels per day (bpd) of capacity."
U.S. forces captured President Nicolás Maduro and his wife and flew them to New York to face narcoterrorism and drug conspiracy charges. President Trump stated the U.S. would run Venezuela until a transition could happen, aiming to access its oil. Venezuela holds 303 billion barrels of mostly extra-heavy crude that requires specialized refining. Heavy and extra-heavy crude from the Orinoco Belt is thicker, denser, and higher in sulfur, requiring cokers and hydrocrackers to produce gasoline, diesel, and jet fuel. Louisiana hosts 15 refineries with over 3 million bpd capacity and extensive ports, pipelines, and the LOOP, positioning it to receive Venezuelan heavy crude and favor operators like Marathon Petroleum.
Read at 24/7 Wall St.
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