Marine Link
Sunday, May 27, 2018

PDVSA Retrenches in Caribbean

Maritime Activity Reports, Inc.

May 11, 2018

© Darryl Brooks / Adobe Stock

© Darryl Brooks / Adobe Stock

Venezuela's PDVSA will let the 335,000 barrel-per-day refinery it leases in Curacao halt operations once crude inventories are exhausted as no new shipments are planned to the Caribbean following ConocoPhillips's legal actions, according to two sources.

PDVSA is also changing its trade arrangements to start delivering all its oil for exports in Venezuelan waters, including the ship-to-ship transfers that have to be made for sending cargoes to Asian destinations.

Conoco last week started several legal actions to satisfy a $2 billion arbitration award issued by the International Chamber of Commerce over the 2007 nationalization of its projects in Venezuela.


Reporting by Marianna Parraga

Maritime Reporter Magazine Cover May 2018 - Marine Propulsion Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News