Venezuela's Jose Oil Port Unable to Resume Exports
Venezuela's state-run PDVSA oil firm has been unable to resume exports at Jose port, the nation's primary crude-export terminal, following last week's widespread power outage, according to people familiar with the matter.PDVSA has launched a contingency plan to try and restore power, according to one of the people. The country's crude upgraders, which convert up to 700,000 barrels per day of Orinoco Belt heavy oil into exportable grades, also are operating at minimum levels due to the lack of power, the people said. (Reuters, Reporting by Deisy Buitrago, Mircely Guanipa and Marianna Parraga Editing by Chizu Nomiyama)
PDVSA to Divert Tankers to Nearby Port after Collision
Venezuela's state-run PDVSA is organizing a contingency plan to address its latest oil-export problem following a minor accident last week at the country's main crude terminal, two sources from the firm told Reuters on Friday.A tanker collision that damaged Jose port's South dock and forced its closure has added to delays in loading crude for export, especially to customers such as Russia's Rosneft and U.S.-based Valero Energy Corp and Chevron Corp.Oil tankers that were assigned…
PDVSA Terminal 'recovering' after Oil Spill
Shipping operations at one of three docks of Venezuela's main crude exporting port have "recovered" after a "minor" oil spill occurred over the weekend, state oil company PDVSA said on Wednesday, without saying how big the spill was. A spill occurred while loading a vessel bound for India at Jose port's eastern dock, union and shipping sources told Reuters on Tuesday, and also affected other tankers close to the very large crude carrier (VLCC) Nave Quasar, chartered by India's Reliance Industries. PDVSA confirmed the spill on Wednesday and said the situation was under control. "Expert oil industry workers activated a contingency plan over the weekend after a minor incident occurred in the maritime terminal, where an oil spill happened during loading operations," PDVSA said in a statement.
Venezuela's Port Woes Stall Rosneft Liftings
The closing of a dock at Venezuela's main oil export port could delay as much as 5 million barrels in crude deliveries to Russian state-oil firm Rosneft, a source said on Wednesday and documents showed.A tanker collision at the weekend forced PDVSA to halt operations at Jose port's South dock, curtailing planned shipments mainly for Rosneft, and for U.S. firms Valero Energy and Chevron Corp until damages can be repaired.Reporting by Marianna Parraga
PDVSA Raises Prospect of Force Majeure on Oil Exports
OPEC member Venezuela has raised the prospect of declaring force majeure on contracts with major crude buyers amid plummeting output from its oil fields and tanker bottlenecks at ports, according to three sources familiar with the matter.Falling production from Venezuela has contributed to a rally in global oil prices to a near four-year high, and other OPEC members may boost output at a meeting later this month to compensate for the shortfall and other risks to global supplies.Oil is the financial lifeline for the embattled socialist government of President Nicolas Maduro…
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.
Venezuelan Crude Sales to US Declined 7% in March
Exports of Venezuelan crude to the United States fell almost 7 percent in March versus the same month of 2015 to 793,581 barrels per day (bpd), according to Thomson Reuters Trade Flows data, affected by delays at the country's main oil port. Even though the sales recovered versus the previous two months, when they hit record lows, the increase was not enough to reach last year levels. State-run oil company PDVSA and its joint ventures sent 52 crude cargoes to the United States last month, according to the data, made with preliminary figures. PDVSA's refining unit, Citgo Petroleum, was the main receiver, along with Valero Energy , Phillips 66 and Chevron Corp.
BP Shipping U.S. Crude to PDVSA's Terminal
British BP has shipped a U.S. crude cargo to PDVSA's terminal in Curacao, the third one that the firm has sent since winning a tender along with China Oil last month to provide the Venezuelan state-run company with some 8 million barrels of light oil, according to sources and Reuters data. Venezuela started regular crude purchases last year and since then it has been launching tenders on the open market for at least one monthly cargo. In March it decided to secure provisions for the whole second quarter, doubling crude imports to some 95,000 barrels per day (bpd). The tanker NS Century chartered by BP loaded crude this week at Beaumont and Port Arthur, Texas, on the U.S. Gulf Coast and set sail to PDVSA's Bullenbay terminal on the Caribbean island of Curacao.
Algerian Tanker Arrives with Venezuela's First Crude Import
Oil tanker Carabobo, carrying Venezuela's first importation of crude oil, arrived late on Saturday at the Jose port, where it is scheduled to unload up to 2 million barrels of Algerian Saharan Blend to be used as a diluent for Venezuela's extra heavy crude, according to Reuters tanker tracking data. (Reporting by Marianna Parraga in Houston; Editing by Greg Mahlich)
Venezuela's Oil Tanker Backlog Eases
A backlog of tankers around Venezuela has eased in recent days after state-run firm PDVSA paid pending invoices to oil suppliers and ship owners, according to trading sources and Reuters vessel tracking data. Some 12 tankers carrying refined products were still waiting to discharge around PDVSA's ports in Jose, Puerto la Cruz, El Palito, Paraguana and Curacao as of Wednesday, but another six could finally deliver after weeks of delay, the data say. The accumulation started in November when tankers carrying refined products - most of them imported by PDVSA from the U.S. Gulf Coast in the middle of refining problems - arrived along with purchases of African crudes for blending.