free counter
World

Power, gas supply disruptions slam Venezuela’s oil exports in July

An oilfield worker walks close to pipelines at PDVSA’s Jose Antonio Anzoategui industrial complex in hawaii of Anzoategui April 15, 2015. REUTERS/Carlos Garcia Rawlins/File Photo

Register now free of charge unlimited usage of Reuters.com

HOUSTON, Aug 2 (Reuters) – Outages disrupting Venezuela’s power and gas supplies to state-run energy firm PDVSA hit July oil exports, adding to a 27% fall from the prior month, in accordance with Refinitiv Eikon vessel tracking data and the business’s internal documents.

Oil sales from the OPEC-member country have zigzagged this season despite receiving supplies of diluents from ally Iran, as PDVSA’s aging infrastructure, insufficient investment and U.S. sanctions have continued to limit output and exports.

In July, an electrical outage and a gas pipeline explosion cut service to PDVSA’s crude-blending facilities and the Jose terminal complex, forcing the shutdown of two heavy-oil upgraders and reducing production of exportable crude blends, the documents showed.

Register now free of charge unlimited usage of Reuters.com

A complete of 29 vessels departed from Venezuela carrying 460,323 barrels each day (bpd) of crude and refined products and 252,000 metric tonnes of petroleum coke and methanol, based on the data. The figures imply a 27% fall from the prior month and a 38% decline versus July 2021.

Most shipments were bound for China directly or through trans-shipments hubs such as for example Malaysia, the Eikon data showed.

Low inventories of Venezuela’s lightest oil grades, mechanical issues at upgraders and the prolonged usage of the Jose terminal’s berths when planning on taking Iranian imports also affected exports.

The disruptions came amid the country’s first oil shipments to Europe in 2 yrs, following U.S. authorizations in-may to Italy’s Eni (ENI.MI) and Spain’s Repsol (REP.MC).

By the end of the month, stocks of Venezuela’s flagship grade, heavy Merey 16 had declined to only one 1.6 million barrels and inventories of upgraded crude grades were at 1.5 million barrels, in accordance with among the documents.

Iran-flagged vessels Serena and Herby attained Jose’s anchorage in late July to discharge crude and condensate as planned, while a third taker, Gracy, also found its way to Venezuelan waters carrying Iranian crude, in accordance with TankerTrackers.com.

Register now free of charge unlimited usage of Reuters.com

Reporting by Marianna Parraga in Houston and Mircely Guanipa in Maracay, Venezuela; Editing by Will Dunham

Our Standards: The Thomson Reuters Trust Principles.

Thomson Reuters

Centered on energy-related sanctions, corruption and money laundering with 20 years of experience covering Latin America’s coal and oil industries. Born in Venezuela and located in Houston, she actually is writer of the book “Oro Rojo” about Venezuela’s troubled state-run company PDVSA and Mom to three boys.

Read More

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker