Gulf Coast Refineries in the United States are importing crude oil from other countries in order to insulate themselves from possible US-imposed sanctions on Venezuela. Using data compiled in part from the EIA, S&P Global Platts reported on Wednesday that for the month of January 2018, just five US Gulf Coast refineries imported a whopping 92 percent of all Venezuelan crude oil that comes into the United States. The five refineries—which include Chevron’s Pascagoula refinery, Citgo’s Lake Charles and Corpus Christi refineries, and Valero’s Port Arthur and St. Charles refineries—are therefore particularly vulnerable to supply disruptions from the troubled Latin nation. This vulnerability has not been lost on the Trump Administration, which has been hesitant to impose sanctions on crude oil shipments coming into the US from Venezuela. But while sanctions on Venezuelan crude have not been imposed, fear remains, and the refineries are hedging their bets, although not […]