Saturday, September 23, 2023

Venezuela exported more oil to Cuba in May than in April, where did it go?

Venezuela’s oil exports to Cuba rose by more than 10,000 barrels per day (bpd) in May compared to April. In the fifth month of 2023, state company PDVSA shipped 58,100 bpd, compared with 45,250 in April.

According to company documents consulted by Reuters, This increase occurred despite the fact that oil exports from Caracas fell by 14% compared to the previous month. Upgraders in its main oil-growing region produced fewer exportable grades and state oil company PDVSA struggled to replenish inventory.

simultaneously, This increase demolishes the Cuban authorities’ arguments to convince people about the serious gasoline and diesel crisis This resulted in ration sales at gas stations being reduced to a minimum, public transport being reduced and even face-to-face classes being suspended in some universities, as well as affecting vital activities of the economy such as crop irrigation. Did.

According to As the shortage worsened, Miguel Díaz-Canel said on April 14, “The countries that have some commitments to supply us with gasoline based on the agreements we have with them are going through complicated energy situations and compliance are not able to. with contractual commitments”.

The latter was read in clear reference to Venezuela, Cuba’s main fuel supplier at the time.

The official said that the situation “has nothing to do with the country’s inefficiencies or the problems of our energy institutions, it is with non-compliance for very objective reasons by the countries that supply us with fuel.”

Similarly, officials from the Ministry of Power and Mines later declared that there was no short-term solution to the problem.

However, as reported by Diario de Cuba, Between the date of Díaz-Canel’s announcement and mid-May, more than a dozen fuel shipments arrived in Cuba. From Venezuela, Russia and Mexico, in particular.

Shipment data from Venezuela confirms that Havana is selling fuel at a throwaway price to Cubans in order to generate income. At least one deep draft petrochemical tanker refueled at the Matanzas supertanker base in MayAs demonstrated by Diario de Cuba, while officials falsely claimed it was a discharge of diesel.

In May, PDVSA continued a sweeping anti-corruption investigation that revealed billions of dollars in unpaid fees and temporarily suspended some contracts. More than 60 people have been arrested in the investigation and the administration is under review.

in that month, The state company and its joint ventures exported an average of 606,258 barrels bpd of crude and refined products over the past two months.But more so than in the first two months of the year, when the suspension of contracts halted some exports.

PDVSA and other state companies separately exported 209,000 metric tonnes of methanol, urea and pet coke, the lowest amount so far this year.

American oil company Chevron Corp.which has increased Venezuelan crude exports since receiving authorization from the United States in November, It shipped some 149,000 bpd last month to the United States and a storage terminal in the Bahamas. In April, it exported around 141,000 bpd.

(tags to translate) oil

World Nation News Desk
World Nation News Desk
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