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Marathon Petroleum Snaps Up Ecuador’s Oil After Russian Sanctions

  • Deal comes in the wake of U.S. ban on Russian oil imports
  • Petroecuador marks biggest crude oil sale since 2019
Refinery And Storage Facilities As Oil Slides For Second Day
Photographer: Bing Guan/Bloomberg

Marathon Petroleum Corp., previously the largest U.S. buyer of Russian oil, just beefed up supplies of Ecuadorian crude after sanctions cut off its supplies from Moscow. 

The Findlay, Ohio-based fuelmaker offered a 75-cent premium over the price marker for nearly 8 million barrels for Ecuador’s Oriente, narrowly outbidding Jamaica’s Petrojam and Petroperu in a competitive tender.