Tankers Stack up as Venezuela Sells Oil Faster than Its Ports Can Handle: Reuters Exclusive
Aging terminals, power outages and equipment failures are limiting loading capacity as PDVSA and traders face delays of up to 30 days.
- Tankers are waiting as long as 30 days to load Venezuelan oil as aging terminals create a de facto export ceiling of around 1.25 million barrels per day, according to Reuters.
- The Jose terminal, which handles roughly 70% of Venezuelan exports, suffers loading interruptions from equipment failures and power outages, while Guaraguao operates with only two docks in service.
- Traders Vitol and Trafigura have exported more than 140 million barrels of crude since January, though Customers are now fighting for terminal access while PDVSA racks up demurrage charges for waiting vessels.
- Washington is promoting a $100 billion reconstruction of the energy sector, yet bottlenecks complicate efforts to increase the more than 500,000 barrels per day heading to Gulf Coast refineries.
- These constraints could become more severe as PDVSA partners begin independently marketing production under new contract rules, potentially limiting recovery efforts initiated following the removal of Nicolas Maduro in January.
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Venezuela's deteriorated oil port terminals are imposing a de facto limit on the country's exports, which have grown again, with tankers having to wait up to 30 days to load due to the aging infrastructure, interruptions in the supply of energy and quality problems, according to shipping data, sources and documents. Exclusive material for subscribers. To have full access, access the link of the material and register.
Tankers are forced to wait up to 30 days to load due to old infrastructure, power outages and quality and infrastructure problems. The post Ships pile up outside Venezuela as existing infrastructure cannot accommodate them appeared first on in.gr.
Most ships are waiting at the port of José in the north-eastern part of the country, where about 70 per cent of Venezuelan oil exports pass.
EXCLUSIVE: Tankers stack up as Venezuela sells oil faster than its ports can handle
Venezuela's dilapidated oil port terminals are imposing a de facto export cap on the country's resurgent crude production, with tankers having to wait up to 30 days to load because of ageing infrastructure, power outages and quality issues, according to shipping data, sources and documents.
The paragin oil terminals in Venezuela de facto impose a limit on the country's oil exports, under the conditions under which the production of oil comes back, and the oil ships have to wait up to 30 days to load due to the aging infrastructure, electricity interruptions and quality problems, shows the data ...
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