& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




PDVSA crude sales to the U.S. fell 19 pct in Oct



By Reuters

Petroleumworld 11 07 2018

Venezuela's crude sales to the United States declined 19 percent in October from September due to lower exports of upgraded oil from the country's largest producing region, the Orinoco Belt, according to Refinitiv Eikon data on Tuesday.

A chronic lack of investment, new military-led management at state-run oil company Petroleos de Venezuela SA, known as PDVSA, and sanctions imposed on the company by U.S. President Donald Trump's administration have contributed to lower exports of Venezuelan oil in recent years, especially to the United States.

Shipments of Venezuelan crude to the United States had exceeded 600,000 barrels per day (bpd) in September as PDVSA raised cash to pay creditors, including bondholders and U.S. producer ConocoPhillips. But they fell last month to 489,282 bpd as several oil upgraders that turn the country's extra heavy oil to an exportable product were halted for maintenance work.

Venezuela's main oil port of Jose also has remained partially out of commission since late August following a tanker collision, which limited exports.

In addition to declining month over month, the volume of Venezuelan oil received last month in the United States was 9.6 percent lower than in October 2017.

Customers in the United States received a total of 30 cargoes from PDVSA and its joint ventures in October versus 38 in September. The largest importer was PDVSA's U.S. unit Citgo Petroleum, followed by refining firm Valero Energy and Chevron Corp.

PDVSA and its joint ventures last month continued exporting to the United States medium and light crude grades that used to be domestically refined, such as Santa Barbara and Mesa 30. The cargoes were received by Citgo, according to the data.

Venezuela's overall crude production declined for the fourth month in a row in September to 1.434 million bpd, putting the annual average in 1.53 million bpd, the lowest in over six decades, according to figures reported to OPEC.


Reporting by Marianna Parraga; Editing by Richard Chang from Reuters.

11 06 2018

Copyright© 1999-2018 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1

November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter







Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.