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Tag Archives: Venezuela oil industry

Venezuela’s Oil Exports Plummet To 1940’s Level Under Tighter U.S. Sanctions

Gloved hand holding bottle as crude oil is being dripped into it

REUTERS, JANUARY 4, 2021 (Reuters) -Pressured by strict U.S. sanctions, Venezuela’s oil exports plunged by 376,500 barrels per day (bpd) in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA, financially squeezing socialist President Nicolas Maduro. The administration of U.S. President Donald Trump also put curbs on PDVSA’s main trading partners, the owners of tankers still transporting …

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Latest Sign of Venezuela’s Oil Collapse Is 84% Surge in Stockpiles

Oil well flare at night

BLOOMBERG, OCTOBER 24, 2020 By Lucia Kassai for Bloomberg — Venezuelan crude inventories have surged 84% over the last three weeks as the threat of U.S. sanctions ward away buyers of the nation’s most important commodity. That raises the risk that state-run PDVSA will have to start shutting in production again, and is the latest sign that Venezuela’s oil industry …

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Venezuela Defies U.S. Sanctions With First Iranian Oil Import (VIDEO)

Oil tanker at terminal

BLOOMBERG, SEPTEMBER 14, 2020 Ship is discharging Iranian condensate at PDVSA terminal | Venezuela’s oil production is at lowest level since 1910s By Lucia Kassai and Fabiola Zerpa for Bloomberg – An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid U.S. sanction tripwires. The ship is identified in internal documents as Honey, according to a report and …

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Oil Storage Tanker Threatening To Sink Off Venezuela

Oil tanker

PortandTerminal.com, September 1, 2020 A Floating Storage and Offloading (FSO) tanker off the coast of Venezuela is taking on water and threatening to sink, according to Eudis Girot, the head of the Unitary Federation of Petroleum Workers of Venezuela (FUTPV). In a social media post Sunday, Girot warned that the FSO Nabarima has about 1.3 million barrels of crude oil on board. She …

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Sixth Iranian tanker is en route to Venezuela despite US warnings

Cargo ship seen from bow

PortandTerminal.com, June 20, 2020 Iran appears to have dispatched another ship to Venezuela despite Washington’s threats against both nations, according to reports. BEIRUT, LEBANON – Another Iranian cargo ship is en route to Venezuela, as the country continues to defy the U.S.’ warnings about trading with the South American nation. According to the Washington Post, the Iranian Golsan (IMO: 9165815) general …

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U.S. Sanctions Four Shipping Companies for Transporting Venezuelan Oil

An oil tanker loads oil at PDVSA’s Jose Antonio Anzoategui industrial complex

REUTERS, JUNE 2, 2020 June 2 – The U.S. Treasury Department on Tuesday said it had sanctioned four shipping firms for transporting Venezuelan oil, the latest escalation in Washington’s effort to oust socialist President Nicolas Maduro by cutting off the OPEC nation’s crude exports. Marshall Islands-based Afranav Maritime Ltd, Adamant Maritime Ltd and Sanibel Shiptrade Ltd, as well as Greece-based …

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Venezuela to Close Pumps as Gas Runs Short, Viral Outbreak Grows

Close up of a hand holding a gas pump handle and refuelling a vehicle

BLOOMBERG, MARCH 21, 2020 Only health, food suppliers and officials can fill up tanks. Measure already in place in several states earlier this week By Fabiola Zerpa, for Bloomberg – Venezuela’s government is shutting fuel stations nationwide to ration dwindling gasoline inventories as a quarantine designed to stop the coronavirus paralyzes the country, seven people said. Just a few dozen of Petroleos …

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