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U.S. Refiners Look to Get in on Shale Oil Export Boom

Marathon Petroleum CEO Heminger looks for customers in Asia
Phillips 66 supplied Mexico with first U.S. crude cargo

Video player cover image — The Difference Between Sweet and Sour Crude Oil

By

David Marino and

March 19, 2019, 6:56 PM UTCUpdated onMarch 20, 2019, 2:09 PM UTC

U.S. refiners aren’t just buying crude to turn into gasoline and diesel -- they’re competing with producers and traders to export it.

Marathon Petroleum Corp. and Phillips 66 -- two of the three biggest U.S. independent fuelmakers -- are getting in on the shale export boom. Both are part owners of existing pipelines and new ones being built from the Permian Basin to the Gulf Coast.