• 3 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 5 minutes Can LNG Kill Oil?
  • 8 minutes Question: Why are oil futures so low through 2020?
  • 11 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 51 mins “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 1 hour CoV-19: China, WHO, myth vs fact
  • 11 hours Question - What if there are no buyers for Chevron's Appalachia Assets?
  • 11 mins Blowout videos
  • 1 day OIL trades as if the virus is a 1 quarter event. As if it's Containable, Reversible and Temporary. Is it ?
  • 1 day Energy from thin air?
  • 2 days Hey NYC - Mayor De Blasio declares you must say goodbye to fossil fuels. Get ready to freeze your Virtue Signaling butts off.
  • 6 hours Natural Gas
  • 2 days Foxconn cancelled the reopening of their mfg plants scheduled for tomorrow. Rescheduled to March 3rd. . . . if they're lucky.
  • 2 days Fast-charging, long-running, bendy energy storage breakthrough
  • 9 hours Cheap natural gas is making it very hard to go green
  • 1 day Coronovairus, Phase One Agreement, Lower for Longer

At Least 41 Dead after Venezuela Oil Refinery Explosion

At Least 41 Dead after Venezuela Oil Refinery Explosion

Venezuela’s biggest oil refinery has been shut down following a gas explosion that killed 41 people and injured 86 others some 240 miles west of Caracas, news agencies reported.

The Saturday blast at the Amuay refinery was the result of a gas leak, which seriously damaged a national guard post and housing complex, according to Venezuelan oil officials. 

Nearly 220 homes in the immediate area were damaged in the explosion, while 18 troops and 15 of their family members were killed when the explosion took out the guard post and nearby housing complex.

The 645,000-barrel capacity refinery was shut down after the explosion, though there has reported been no structural damage to the main refining units.

There are concerns now that the refinery will not be able to meet its internal and external supply requirements, and the US market will likely be affected by this. 

The incident comes as Venezuelan President Hugo Chavez unveiled a plan to double the country’s daily crude oil output over the next six years by spending $130 billion.

On Tuesday, oil rose for the first time in four days in New York as the fire caused by the explosion at the Venezuela refinery continued to spread, and as US crude inventories were forecast to drop, and a storm headed for the Gulf of Mexico.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage


Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News