• 4 minutes Some Good News on Climate Change Maybe
  • 7 minutes Cuba Charges U.S. Moving Special Forces, Preparing Venezuelan Intervention
  • 12 minutes Washington Eyes Crackdown On OPEC
  • 15 minutes Solar and Wind Will Not "Save" the Climate
  • 2 hours L.A. Mayor Ditches Gas Plant Plans
  • 56 mins Prospective Cause of Little Ice Age
  • 7 hours is climate change a hoax? $2 Trillion/year worth of programs intended to be handed out by politicians and bureaucrats?
  • 4 hours students walk out of school in protest of climate change
  • 1 hour *Happy Dance* ... U.S. Shale Oil Slowdown
  • 22 hours Most Wanted Man In Latin America For AP Agency: Maduro Reveals Secret Meetings With US Envoy
  • 22 hours And for the final post in this series of 3: we’ll have a look at the Decline Rates in the Permian
  • 9 hours Ford In Big Trouble: Three Recalls In North America
  • 1 day And the War on LNG is Now On
  • 1 day Amazon’s Exit Could Scare Off Tech Companies From New York
  • 6 hours Is the Green race a race from energy dependence.
  • 9 hours Why Is Japan Not a Leader in Renewables?
A Big Week For Oil Bulls

A Big Week For Oil Bulls

It’s been a great week…

Brent Crude Hits 2019 High At $65

Brent Crude Hits 2019 High At $65

Brent Crude hit $65 a…

Saudi Oil Tanker “Accidentally” Heads To Venezuela

saudi_oil_tanker

A very large partially loaded oil tanker from Saudi Arabia is heading to Venezuela in an extremely rare shipment between the two oil producers and OPEC members, S&P Global Platts trade flow data showed on Friday.

The very large crude carrier (VLCC)—one capable of carrying up to 2 million barrels of crude oil, refined oil products, or condensate—is owned by Saudi tanker company Bahri. The super tanker, Abqaiq, left the Yanbu port on the Red Sea on January 20 and is scheduled to arrive at Venezuela’s main crude oil terminal of Jose on February 11, according to Platts tanker flow data.

This is a very unusual voyage for a Saudi oil tanker as no tanker owned by Saudi Arabia has been spotted to have made the trip to Venezuela in at least the past two years, Platts data show. Other Bahri-owned tankers currently in the Atlantic Ocean have their final destinations set for the U.S. Gulf Coast, which is the conventional destination of Saudi tankers sailing in the Atlantic.

Shipping sources tell Platts that the tankers owned by Bahri are being exclusively used by Saudi state oil giant Saudi Aramco to ship crude oil or refined oil products.

The ship is partly loaded, so there could be two possible explanations, according to Platts—one is that the tanker is shipping Saudi light oil or condensate to Venezuela, the other is that it could load Venezuelan crude oil to later ship it to another region.

The light oil/condensate delivery scenario could be a plausible one, because with the new U.S. sanctions on Venezuela’s oil industry and its state oil firm PDVSA, Venezuela can’t import naphtha from the U.S. to use it as a diluent to blend with its extra heavy crude oil to make it flow for exports.

Yet another possible explanation for the very rare trip could be that the tanker crew may have incorrectly entered the destination, according to Platts.

By Tsevtana Paraskova for Oilprice.com 

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Bhimsen Pachawry on February 10 2019 said:
    Whatever the USA doesn't like is not accidental or unwanted. In this case, Saudi Arabia has sent crude oil to Venezuela intentionally to help Venezuela tackle USA sanctions. Saudi Arabia seems to be trying to ensure that USA doesn't acquire Venezuela oil and hence gain further strength to arm twist other countries of the world including guof countries.

    It appears that unlike Iran sanctions, US has very little support from outside USA-EU alliance to impose sanctions on Venezuela.

Leave a comment

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