Sun, Aug 21, 2005 - Page 10 News List

Terror fears drive up oil prices

ENERGY Crude oil prices rose to US$65.35 in New York as days of violent protests halted production in Ecuador and missile attacks in Jordan sparked supply concerns

AP , NEW YORK

The US imported about 288,000 barrels a day of crude oil from Ecuador in June, making it the No. 9 source of crude imports, according to the EIA.

"The shut-in could affect the US West Coast more than the size of Ecuadorean imports might suggest," the Eurasia note said.

Worries about petroleum product supplies lingered amid trouble at Venezuela's giant Amuay refinery where a fire this week forced the facility to reduce run rates.

Jesus Luongo, manager for the Amuay and Cardon refineries, said that a distillation unit at the Amuay refinery was due back up Monday or Tuesday.

A key gasoline-producing unit at PdVsa's Punta Cardon refinery is expected to return to service by next Friday, he said.

The 77,000 barrel a day fluid catalytic cracker at Punta Cardon was shut for repairs about a month ago, he added.

Venezuela exports relatively small amounts of petroleum products such as gasoline to the US, but is the No. 4 source of crude oil for the US, where state-owned Petroleos de Venezuela SA runs a number of refineries through its Citgo unit.

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