• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 21 hours America's pandemic dead deserve accountability after Birx disclosure
  • 4 hours Fukushima
  • 9 hours CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 12 hours Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 18 hours Biden about to face first real test. Russia building up military on Ukraine border.
  • 4 hours U.S. Presidential Elections Status - Electoral Votes
  • 16 mins Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 4 days U.S. and Chinese investors to buy Saudi pipelines , $10 Billion deal.
  • 8 hours New Chinese Coal Plants Equal All those in U.S.A
  • 3 days Does .001 of Atmosphere Control Earth's Climate?!
  • 2 days The coming Cyber Attack
  • 4 days NG spot prices hit triple digits for weekend delivery
  • 2 days Oh the Dems!!! They cheer for helping people while stabbing them in the back!!! Enbridge asks Canadian government to support oil pipeline in dispute with Michigan

Venezuela Restarts Gasoline Output At Only Operating Refinery

Venezuela’s state oil firm PDVSA has resumed gasoline production at the only operating refinery in the country home to the world’s largest oil reserves that is experiencing severe gasoline shortages, sources with knowledge of the matter told Reuters.

PDVSA’s refinery Cardon, capable of processing 310,000 barrels per day, was hit by a fire last week and people with knowledge of the operations told Reuters on July 6 that gasoline production was halted because the fire had affected the catalytic cracking unit.

The refinery has since resumed production of gasoline, according to Reuters’ sources, and the Cardon facility is currently producing around 30,000 bpd of gasoline, union leader Ivan Freites told Reuters over the weekend.

Venezuela’s 1.3-million-bpd refining capacity is mostly offline, due to the cash crunch at PDVSA and Venezuela, the crumbling industry, and years of lack of investment in maintenance and repairs.

The lockdown to curb the coronavirus pandemic in the country which is in a severe economic collapse has reduced some of the demand for gasoline, but shortages persist.

Venezuela has seen some reprieve recently in its fuel shortage problem, after Iranian tankers shipped gasoline and refining components to the Latin American country in an open defiance of the U.S. sanctions.

Nicolas Maduro’s regime tried to alleviate the fuel shortage in the country, but a new scheme of subsidized gasoline failed to put an end to the long lines in which Venezuelans queued to fill their cars with fuel.

Despite the shipments from Iran, Venezuelans continue to queue for gasoline in the middle of July, while the U.S. is looking for ways to cut off Iranian gasoline deliveries to Venezuela.

Ezio Angelini, the head of the Maracaibo Chamber of Commerce, told Agence-France Presse this week:

“We knew this would happen, because Venezuela is not producing gasoline or is producing very little.”

By Tsvetana Paraskova 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