Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Hamaca News

05 Jan 2023

Lack of Dredging Could Delay Chevron's Venezuela Oil Exports

© momentscatcher / Adobe Stock

A shipping channel snafu is slowing Chevron Corp’s efforts to load tankers at one of its four Venezuelan joint ventures and bring heavy crude to the United States, three people familiar with the matter said on Wednesday.Washington in November authorized the last major U.S. firm still operating in Venezuela to restore lost output and begin exporting oil as a way to encourage talks between Nicolas Maduro’s government and the country’s political opposition.But a plan to move heavy…

03 Jan 2023

Chevron to Send 500,000-barrel Cargo of Venezuelan Oil to Its Pascagoula Refinery

© David David Potter / Adobe Stock

U.S. oil producer Chevron Corp plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday.The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from the Petropiar oil joint venture operated by both companies.As of Tuesday, the tanker scheduled to carry the shipment, the Bahamas-flagged Caribbean Voyager…

10 Jun 2020

Oil Tankers Turn Away From Venezuela as More Sanctions Loom

Oil tankers that were sailing toward Venezuela have turned around and others have left the country’s waters as the United States considers blacklisting dozens of ships for transporting Venezuelan oil, according to shipping data and industry sources.The threat of tighter sanctions is already disrupting the global shipping market. Chinese oil firms are considering whether to decline to charter any tanker that has visited Venezuela in the past year, no matter where the ship is now or for what voyage, four shipping sources told Reuters on Tuesday.Washington is seeking to oust the socialist government of President Nicolas Maduro by choking the oil exports that provide its main source of income.

04 May 2016

Venezuelan Crude Sales to US Fell 8% in April

Venezuelan crude sales to the United States declined 8.3 percent in April to 734,700 barrels per day (bpd) compared with the same month of 2015, amid delays at PDVSA's main ports, according to Thomson Reuters trade flows and vessel tracking data. State-run oil firm PDVSA and its joint ventures sent a total of 45 crude cargoes to customers in the United States last month versus 54 cargoes in April of 2015 and 52 in March. Equipment malfunctioning at Jose port has been occurring since March, causing delays to load and discharge tankers. This has also resulted in a backlog of vessels around PDVSA's Bullenbay terminal in the Caribbean island of Curacao. PDVSA this week said it is installing three new loading arms to speed up operations at Jose.

27 Jun 2007

ConocoPhillips and Venezuela Unable to Reach Migration Agreement

ConocoPhillips and the Venezuelan government were unable to reach agreement regarding ConocoPhillips’ migration to an Empresa Mixta structure mandated by Venezuela decree law 5.200. Therefore, pursuant to the decree, Petróleos de Venezuela S.A. (PDVSA) or its affiliates will directly assume the activities associated with ConocoPhillips’ interests in the Petrozuata and Hamaca heavy-oil ventures and the offshore Corocoro development project. While negotiations are continuing between ConocoPhillips and Venezuelan authorities concerning appropriate compensation for the company’s interests, the company expects to record a complete impairment of its entire interest in its oil projects in Venezuela of approximately $4.5 billion…