US EditionVenezuela resorts to floating storage as onshore storage tanks fill up: Report
PDVSA stores crude on tankers due to U.S. sanctions disrupting exports; inventories at Venezuelan terminals reached 22 million barrels, the highest since August, Kpler reported.
- This month, Venezuela's state oil company PDVSA has begun loading crude and fuel onto tankers and anchoring them in domestic Venezuelan waters as onshore stocks swell at the Jose terminal.
- U.S. Coast Guard interdictions this month showed it intercepted two fully loaded Venezuelan crude tankers, while U.S. President Donald Trump’s blockade and targeting of a 'shadow fleet' scared ship owners, leaving a dozen cargoes stuck.
- Kpler's records reveal December inflows reached 12.6 million barrels, pushing total inventories to 22 million barrels as PDVSA produces about 1.1 million barrels per day, filling Jose tanks from the Orinoco Belt.
- PDVSA is negotiating price discounts and contract changes as some customers push to return cargoes, and last week officials debated but declined to declare force majeure.
- The reliance on China for about 80% of exports this year and PDVSA’s past use of tankers as floating storage highlight concentrated export risks amid the current crisis.
25 Articles
25 Articles
El Periódico
The ‘Agate’ went to the Caribbean, from Turkey to Venezuela, but has been near Tenerife for several days Transporting fuel for the Chavista regime
Venezuela resorts to floating storage as onshore storage tanks fill up
Venezuela's state-run oil company PDVSA has started filling tankers with crude and fuel oil and keeping them in Venezuelan waters, as inventories have mounted due to the U.S. seizing Venezuela-linked ships at sea, according to company documents and shipping data.
Reforma
eldiariodechihuahua.mxA supertanker loaded with crude returns to Venezuelan waters after the interception by the US of more oil tankers.
The U.S. ambassador to the UN, Mike Waltz, assured the Security Council this Tuesday that his country will impose "to the maximum" sanctions on Venezuela following the US government's blockade of sanctioned oil tankers and the interception of several ships in the Caribbean Sea. "The U.S. will apply sanctions to the maximum to deprive Maduro of the resources he uses to finance the Cartel de los Soles, designated as a terrorist organization by the…
Venezuela resorts to floating storage as onshore tanks fill up amid ship seizures
Dec 23 - Venezuela's state-run oil company PDVSA has started filling up tankers with crude and fuel oil it has in storage as inventories mount amid moves by the U.S. to seize Venezuela-linked ships, according to company documents and shipping data. Read more at straitstimes.com.
Coverage Details
Bias Distribution
- 45% of the sources are Center, 44% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
