Upgraded Oil News

Venezuela's PDVSA and its joint ventures last month shipped 638,325 barrels per day (bpd) of crude to the United States, a 30 percent increase over June due to larger sales of upgraded oil, according to Thomson Reuters trade flows data. Venezuelan crude output has declined this year to its lowest point in 27 years due to a lack of investment and payment delays to oil service firms, affecting exports to customers in key markets including the United States. Even though the volume of crude sent to the United States in July was larger than the previous month, it was 22 percent below the same month in 2016. The main U.S. receiver of Venezuelan crude last month was refiner Valero Energy, followed by PDVSA's refining unit in the United States, Citgo Petroleum.

The Marine Spill Response Corporation (MSRC) is now providing upgraded oil spill response services in the mid-continent region of the U.S., including the Mississippi, Ohio, Arkansas and Missouri Rivers. Captain Ian Walker will represent the National Response Organization, which owns and operates a fleet of USCG certified Oil Spill Response Vessels, in this new endeavor.