LATAM
México

Guyana

Trinidad
& Tobago




Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

Venezuelan oil to Cuba: Vessels change names or go dark

Dana Smillie / Bloomberg

Jose Ignacio Hernandez

- Oil tanker Neda sailed incognito for 42 days in April-May
- U.S. continues to target shipments between the two countries

By Lucia Kassai and Ben Bartenstein / Bloomberg

HOUSTON NEW YORK
Petroleumworld 07 09 2019

Stopping the flow of Venezuelan oil to its ally Cuba might prove harder than the U.S. expected.

Tankers are being renamed and vessels are switching off their transponders to sail under the radar of the U.S. government. The vessel Ocean Elegance, an oil tanker that has been delivering Venezuelan crude to Cuba for the past three years, was renamed Oceano after being sanctioned in May. The ship S-Trotter, another one that's on the sanctions list, is now known as Tropic Sea, according to data compiled by Bloomberg.

The oil tanker Nedas, after being sanctioned in April, made a delivery to Cuba incognito because it turned off its satellite tracking system. It went unaccounted for 42 days, but shipping reports show that it delivered oil to Cuba. After the ghost delivery, it discreetly changed its name to Esperanza. The Nedas/Esperanza has delivered 2 million barrels of crude to Cuba this year, according to shipping reports.

Halting the flow between the two countries may prove difficult. There are over 4,500 crude oil tankers in operation globally, and state oil giant Petroleos de Venezuela SA also uses oil products vessels, adding to the complexity of the task.

Nevertheless, the U.S. continues to target shipments between the two countries and aims to close loopholes in sanctions, according to a senior U.S. administration official. The goal is to surgically and methodically cut off funds to the regime of President Nicolas Maduro.

“Those who circumvent sanctions do so at their own risk,” National Security Council spokesman Garrett Marquis said by email. The U.S will continue targeting entities involved in shipping oil between the two countries and is seeking to further “cut off Maduro and his cronies' access to funds derived from oil sales to Cuba,” he said.

bSee also: Going Dark, Fake Voyages: Tactics to Skirt Trade Sanctions

Last week the Treasury Department sanctioned Cubametales, the state-run Cuban oil and metals importer, because the Havana-based company is importing Venezuelan crude and Cuba, in return, “continues to provide support, including defense, intelligence and security assistance, to the illegitimate regime of former President Nicolas Maduro,” Treasury said in a statement.

Cuba imports Venezuelan crude for its refineries and fuel oil to run its power plants and generate electricity. The supply of Venezuelan oil was agreed on a handshake between former presidents Hugo Chavez and Fidel Castro and later memorialized in contract. Shipments to Cuba peaked at 103,000 barrels a day in 2009 and have been dwindling over the years, according to data published by PDVSA. Volumes slumped to 35,177 barrels a day in the first half of 2019, amid lower production and sanctions, data compiled by Bloomberg show.



Story by Lucia Kassai and Ben Bartenstein from Bloomberg.

bloomberg.com/ 07 08 2019

________________________


We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.

________________________

Copyright© 1999-2019 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


TOP

Contact: editor@petroleumworld.com,

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

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld ™  / Elio Ohep - All rights reserved

This 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.