Venezuela is at zero
Venezuela has resumed operations at two oil refineries, President Nicolas Maduro announced on his Twitter microblog. Venezuelan authorities also announced the adoption of a plan to regulate fuel supplies at petrol stations.

According to media reports, petrol is being rationed in Venezuela on the basis of licence plates. Queues several kilometres long have formed at petrol stations.

Venezuela, a major oil producer before the onset of the current political and economic crisis, is grappling with serious petrol shortages. Its refineries are operating at only 10 % of capacity owing to equipment problems and a shortage of diluents for Venezuela heavy crude.

For the past six years, the Latin American country’s foreign currency earnings, derived almost exclusively from oil exports, have sunk by 99 %, Maduro has announced. According to data cited by the president, earnings of $56.6 billion in 2013 plunged to $477 million as of September 2020.

Last year, the U.S. administration barred American companies from buying Venezuelan crude for refining.

According to OPEC data, Venezuela extracted a total of 340,000 barrels per day in August, compared to earlier figures of 712,000 barrels per day. In 2017, the average extraction figure stood at 1.7 million bpd – and in 2000 nearly 3 million.

Oil industrial service company Baker Hughes said that in August a single refinery was in operation – a report denied by the state-owned Venezuelan oil company PDVSA.


Share on facebook
Share on telegram
Share on email
Share on twitter
Share on vk
Share on odnoklassniki
Share on reddit

Add comments

Your email address will not be published. Required fields are marked *

Indonesia will build 100 MW floating SPP

Indonesian PT PLN Nusantara Power, the subsidiary of the state-owned energy distributor Persero, announced the tender for building a 100 MW floating solar power station (SPP). The Karangkates project will be implemented at the water reservoir of the dumb with the same name on Java Island.

read more ...

Russian scientists developed new method for breaking oil-water emulsions

The scientists from the V.I. Vernadsky Institute of Geochemistry and Analytical Chemistry of the Russian Academy of Sciences (RAS) developed a new method for breaking field oil-water emulsions into water and oil without specialised chemical agents. It helps to receive feedstock for downstream refining or for sales. The research outcomes are published in the Journal of Petroleum Science and Engineering.

read more ...


October 2020