• 4 minutes China 2019 - Orwell was 35 years out
  • 7 minutes Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 11 minutes Trump will capitulate on the trade war
  • 14 minutes Glory to Hong Kong
  • 6 hours Here's your favourite girl, Tom!
  • 7 hours Brexit agreement
  • 3 mins Peaceful demonstration in Hong Kong again thwarted by brutality of police
  • 7 hours China's Blueprint For Global Power
  • 11 hours Australian Hydroelectric Plant Cost Overruns
  • 15 hours Yesterday Angela Merkel stopped Trump technology war on China – the moral of the story is do not eavesdrop on ladies with high ethical standards
  • 8 mins ABC of Brexit, economy wise, where to find sites, links to articles ?
  • 3 hours Nigeria Demands $62B from Oil Majors
  • 14 hours IMO 2020:
  • 5 mins KURDS LEFT HIGH AND DRY TO DIE?
  • 6 hours Bloomberg: shale slowing. Third wave of shale coming.
  • 7 hours 5 Tweets That Change The World?
  • 10 hours The Problem Is The Economy, Not The Climate

Venezuela Continues Shipping Oil To Cuba

oil tanker

Venezuela has sent 1 million barrels of crude to Cuba despite pressure from the United States to suspend these shipments, Reuters reports citing a PDVSA document as well as shipping data.

The U.S. has been trying to plug Venezuela’s oil exports through sanctions on PDVSA, which have effectively stopped the flow of Venezuelan oil to U.S. refiners, and through a suspension of diluent exports to Venezuela. The latest was sanctioning 23 vessels and two companies involved in shipments of oil to Cuba.

However, as TankerTrackers.com co-founder Samir Madani noted soon after these sanctions were announced, 31 of the 35 sanctioned vessels were not tankers at all but tug boats, as per the official list released by the Department of Treasury.

Reuters noted in its report that the two tankers used to make the latest shipment to Cuba were not on the sanctioned vessels list. One carried 400,000 barrels of crude and the other 600,000 barrels.

And that’s not all. Besides the two tankers en route to Cuba with crude oil, there are three more waiting to load refined products, also bound for the Caribbean island.

Despite dropping oil production, Venezuela’s still-standing government is adamant about honoring its barter deal with Cuba, which opposition leader Juan Guaido slammed as stealing and called for a suspension of shipments as the oil was more needed at home amid a string of devastating blackouts.

PDVSA, however, is under the control of military officials still loyal to the Maduro government, hence the continued shipments to Cuba, whose leader, Raul Castro has been equally adamant that the island will continue supporting its ideological ally.

Venezuela’s oil production fell sharply last month, by 289,000 bpd to below 1 million bpd—to 732,000 bpd in March, according to OPEC’s secondary sources cited in the latest edition of its closely watched Monthly Oil Market Report.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play