Tanker storm in Venezuela grows while PDVSA faces difficulties delivering oil

A crude oil tanker docks at the Isla Refinery Terminal in Willemstad, Curacao Island on February 22, 2019. Photograph: Henry Romero/Reuters.

The bottleneck for ships waiting to load crude oil and fuel in Venezuela has increased in recent weeks, as state oil company PDVSA struggles to deliver cargoes on time, according to people familiar with the matter, documents and shipping data.

by Reuters
Free translation of lapatilla.com

Documents and data showed that PDVSA tried to increase shipments this month after setbacks in January when a power outage at the main port in Venezuela affected its exports. But the increase was not enough to ease congestion.

As of Monday, at least 19 supertankers were waiting to load near the Venezuelan ports of Jose and Amway, where most exports are shipped, compared to about a dozen tankers at the end of November.

“I have two customers who have been waiting since the beginning of January for shipments that were negotiated last year and have not been assigned loading windows yet.”A source at the maritime agency told Reuters.

PDVSA did not immediately respond to a request for comment.

In October, the US Treasury Department extended a six-month license for Venezuela to approve oil exports to selected destinations as a way to encourage fair presidential elections this year. But Washington said President Nicolas Maduro had not kept his promises and might back away from easing sanctions in April.

Ship tracking data from financial firm LSEG and documents from PDVSA show that some tankers, mainly destined for destinations such as India, Malaysia and China, have been waiting since December. Shipments bound for the United States are also facing delays, but not as much as those bound for Asia.

Increasing delays have forced some tanker operators to choose freight forwarders who can secure crew provisions for extended periods. Others are waiting near Aruba, Curacao and Trinidad for better supplies, the people said.

They added that PDVSA had informed several customers that it did not have sufficient stocks of exportable crude oil to speed up deliveries.

Last week, PDVSA's heavy crude oil inventories at its main storage hub, Port Jose, rose to about 6.8 million barrels from 5.32 million barrels at the end of January. However, one document showed that stocks of diluents needed to produce exportable ores have declined.

It is possible to fall from the crudo to cumplir with the todos of the cargamentos negociados in the month of October to move to the armadores who abandon the places of the venezuelan people to the places in the places where Washington invaded the sanctuary, including the desire to carry the car. , según People.