ongoing sanctions on the Venezuelan oil industry are prompting the country ’s refiners to seek alternative imports of crude from Gulf of Mexico producers . Sour medium oil from the Mars pipeline operated by Shell and petroleum has notably benefited , with prices reaching their highest in recent years following the sanctions and tighter medium - heavy supplies . Marathon Petroleum and Valero Energy have led those buying Mars , though the former said it had been buying away from Venezuelan crude already and that it only contributed minimally to its daily oil purchases .
US sanctions on the Venezuelan oil industry are prompting the country’s refiners to seek alternative sources of crude from Gulf of Mexico producers. Sour medium oil from the Mars platform operated by Shell and BP has notably benefited, with prices reaching their highest in five years following the sanctions and tighter medium-heavy supplies. Marathon Petroleum and Valero Energy have led those buying Mars, though the former said it had been transitioning away from Venezuelan crude already and that it only contributed minimally to its daily oil purchases.