	u s oil tax would not affect pdvsa champlin deal an eventual oil import fee in the united states will make no difference to champlin petroleum corp s joint venture agreement signed today with petroleos de venezuela pdvsa champlin chairman william adams said this was an aspect which was discussed at length during the negotiations but we can say our contract covers all eventualities in this regard he told reuters during the signing ceremony here venezuela s energy and mines minister arturo hernandez grisanti earlier described the agreement under which pdvsa buys pct of champlin s corpus christi refinery as one more step in the maturation and presence of our oil industry in world markets union pacific chairman william cook said the agreement will be beneficial to both sides combining a secure source of supply with a modern refinery and access to markets we are looking to a long term relationship and at a time of protectionist tendencies in the u s congress there are clear benefits to both sides he said adams said pdvsa  would remain competitive even with an oil import fee because champlin had invested heavily over the years in adapingthe texas refinery to process venezuelan heavy s with coking and hydro treating facilities and obtain a competitive product yield therefore while the danger of an oil import fee has been a consideration in the negotiations and it remains to be seen what such a fee would represent we do not foresee any impact on today s agreement adams said he said the refinery could run  as heavy as venezuela s bolivar coastal field bcf api without any difficultiesand would probably move over time to a heavier diet to take advantage of bigger margins the refinery has a capacity to process up to bpd of venezuelan high sulphur content heavy  with an pct yield of white products reuter 
