MAY melbana energy limited

Ann: Block 9 Operations Update, page-196

  1. 3,648 Posts.
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    oil pricing is complex. not as easy as benchmark matching. The US imports heavy crude and exports light crude, the older refineries are designed on using heavy oil which has dropped off in the U.S. and hence why Canadian and Venezuelan heavy crudes are in demand in the US.

    Using benchmark to price can be flawed as a full analysis is required to understand the cuts with in each oil.
 
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