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Range Resources sees no impact resulting from Petrotrin refining changes

Trinidad's national oil company will cease refining operations on the island, opting to export crude instead

oil and gas operations
Range sells its crude to Petrotrin

Range Resources Ltd (LON:RRL) has told investors that the announced changes to the refining policy of Trinidad’s state oil firm is not expected to have any impact on the company’s operations.

The planned restructuring of Petrotrin's operations will see the state oil firm stop refining activities, and instead export crude, as it also focusses more on exploration and production.

READ: Range Resources updates on Trinidad operations

Range, in this afternoon’s statement, said: “Range currently sells all of its produced oil in Trinidad to Petrotrin under various contracts and not directly to the refinery.

“The company expects that following the restructuring it will continue to sell its produced oil to Petrotrin and the restructuring of Petrotrin's operations is not anticipated therefore to have any impact on the company's operations in Trinidad.

“Range looks forward to continuing its long-standing relationship with Petrotrin and working with them during this transition period.”

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AIM:RRL
Market: AIM
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