• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 5 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 29 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 9 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 8 hours Did China cherry-pick the factors that affected the economic slow-down?
  • 4 hours Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 5 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 3 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 3 days Nord Stream - US/German consultations
  • 5 days An Indian Opinion on What is Going on in China
  • 409 days Class Act: Bet You've Never Seen A President Do This.
  • 3 days Australia sues Neoen for lack of power from its Tesla battery
  • 3 days Forecasts for Natural Gas
  • 5 days Storage of gas cylinders
Refining Billionaire: $100 Oil Is Likely

Refining Billionaire: $100 Oil Is Likely

With oil prices rallying in…

The Most Disruptive Energy And Healthcare Stocks Of The Year

The Most Disruptive Energy And Healthcare Stocks Of The Year

The trillion-dollar healthcare and energy…

Venezuelan Crude Exports To U.S. Nosedive By 23 Percent

Export of crude oil from Venezuela to the United States (US) plummeted by 23 percent in October, according to Thomson Reuters trade flows data published on Thursday.

The US, which is one of Venezuela’s top export partners for oil, received 37 cargo shipments of crude in October. This amount is nine fewer cargo shipments than were obtained in September, and thirteen fewer than the total received in October 2015.

The primary recipients of Venezuela crude last month where Chevron, Phillips 66, and Citgo Petroleum, the latter of which is the refining unit for Venezuela’s state-run PDVSA. Conversely, refining firm Valero Energy continued suffering a decline in crude shipments from PDVSA despite serving as a large importer of Venezuelan oil in recent years.

Venezuelan oil exports have fallen mainly due to a drop in shipments of diluted crude oil last month to its lowest level since 2015. Only 85,840 barrels per day of Venezuelan extra heavy oil and imported naphtha were shipped out last month.

Oil makes up around 95 percent of Venezuela’s export revenue, but product sent abroad has dipped sharply this year due to factors like underinvestment, payment delays to suppliers, and insufficient diluents to make exportable crude blends. Lowered exports are just one of several woes facing a weakened Venezuelan oil sector that has helped to severely weaken the national economy and exacerbate deep political tensions.

The drop in oil exports from Venezuela has affected other countries in the Americas such as Cuba, which slashed production at its Cienfuegos refinery that is jointly run with PDVSA due to the decrease in shipments.

By Erwin Cifuentes for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • gulag Pittsburgh on November 04 2016 said:
    Maduro is a thug dictator who has run his nation into desperation. Shortages of food, medicine, and liberty are rampant. Jail awaits political opponents, with over 100 political prisoners. Oil production has fallen so badly that it cannot even supply mentor Cuba with crude or stay current on loan payments for huge Chinese loans. Because Orinioco crude is heavy, Venezuela must import light crude to mix with it before it can be sold. Venezuela (PDVSA) is too broke to pay for imports, so production suffers.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News