Stronger US market position

August 1, 1998, 10:00 CEST

A recent deal with Crown Central Petroleum Corporation has expanded Statoil's US refining capacity by 35,000 barrels of crude per day.

This agreement follows a similar contract with Coastal's Eagle Point refinery in New Jersey for about 65,000 barrels per day."These two deals strengthen our position in the US oil market," says Sigurd Jansen, president of Statoil Marketing & Trading at Stamford, Connecticut. "We've concluded the new agreement because of our existing good cooperation with Crown." Under the two-year contract, Statoil will deliver 35,000 barrels of different crude types per day to the Crown refinery at Pasadena in Texas from October. Crown owns two refineries in Texas with a combined capacity of 152,000 barrels of oil per day.