22 C
Georgetown
Tuesday, April 13, 2021

Venezuela’s oil exports stagnant in July at below 400,000 bpd – data

Must Read

For Guyana, retaining the resource-rich Essequibo region ‘is a life-or-death matter’ – Ivelaw Griffith

Ivelaw Lloyd Griffith, former Vice Chancellor of the University of Guyana and Senior Associate with the Center for Strategic...

Canada-Guyana Chamber says now is the time to invest in economy projected to be world’s most oil intensive by 2025

The expanding oil and gas operations in Guyana will have a significant impact on other industries in the country,...

Touchstone confirms ‘liquids rich’ natural gas discovery in Trinidad and Tobago

Canada-based oil and gas company Touchstone Exploration Inc. said on Monday the completion of flowback testing of the Cascadura...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

(Reuters) – Venezuela exported about 388,100 barrels per day of crude and fuel in July, almost unchanged versus the previous month, as U.S. sanctions on PDVSA continued limiting sales, according to Refinitiv Eikon and internal data from the state-run company.

Washington has ramped up pressure this year on PDVSA’s customers, trade partners and shippers aiming to stop the re-sale of Venezuelan oil and block efforts to hide or change its country of origin.

That is making it increasingly difficult for many of the company’s clients to find tankers for transporting the oil.

A total of 20 cargoes of crude and refined products were shipped last month from the OPEC-member country, with India emerging again as the main destination, with a third of total exports, according to the data.

India’s Reliance Industries in early July resumed imports of Venezuelan crude after a three-month pause caused by the U.S. sanctions. The company requested permission from the U.S. Treasury Department to swap Venezuelan oil for diesel.

But the recovery of exports to India was not enough to compensate for the loss of other customers of Venezuelan oil in recent months, leaving July exports 1.8% above the previous month but 60% below the average of July 2019.

Venezuela also exported 88,065 bpd to Europe and 85,260 bpd to Cuba, the data showed.

Fuel imports arriving in the South American nation, whose struggles to satisfy its domestic demand of gasoline have increased again in recent months, fell to 19,000 bpd from 63,600 bpd in June.

OilNOW TV

Latest News

Canada-Guyana Chamber says now is the time to invest in economy projected to be world’s most oil intensive by 2025

The expanding oil and gas operations in Guyana will have a significant impact on other industries in the country,...

For Guyana, retaining the resource-rich Essequibo region ‘is a life-or-death matter’ – Ivelaw Griffith

Ivelaw Lloyd Griffith, former Vice Chancellor of the University of Guyana and Senior Associate with the Center for Strategic and International Studies says a...

Total, CNOOC enter agreements with Uganda and Tanzania for $3.5 billion pipeline

(Reuters) -Uganda, Tanzania and oil firms Total and CNOOC on Sunday signed agreements that will kickstart the construction of a $3.5 billion crude pipeline...

Touchstone confirms ‘liquids rich’ natural gas discovery in Trinidad and Tobago

Canada-based oil and gas company Touchstone Exploration Inc. said on Monday the completion of flowback testing of the Cascadura Deep-1 well in Trinidad and...

Exxon’s Greater Guyana Initiative brings Zoom Rooms project to University of Guyana

The University of Guyana (UG) on Saturday launched its Zoom Rooms project which it says lays down the first building blocks for its blended-learning...

More Articles Like This