I started this question due to the Venezuela situation but ended up thinking about heavy crude being the future even ignoring Venezuela...
Basically I read few years ago that the US made large investments around the late 1990s and early 2000s into refineries designed to handle heavy and sour crude in the Gulf Coast. But these refineries wherr operating at low capacity usage for many years. Heard they were made due to a concern that traditional US light oil production was declining (like Texas)
Given current context, I’m trying to understand with these heavy-crude refineries which publicly traded companies would be interesting to own and benefit from this capacity for the **long term**? Going past Venezuela...
From what I could find, names that seem to have heavy investments in the Gulf include Valero, Marathon Petroleum, ExxonMobil, Chevron, BP, PBF Energy, and Motiva (Aramco). Is this it ? I don't know much about the sector
sector
Also, I’m generally not into stock picking. I tend to prefer ETFs