Monday, December 11, 2023

Venezuelan oil exports to Cuba have plummeted

Venezuela’s oil exports to Cuba fell to 32,000 barrels per day (bpd) of crude oil and fuel, about 54,000 barrels less than those shipped. in September, when the Island received about 86,000 bpd.

According to the agency ReutersVenezuelan exports of petroleum products and petrochemicals fell from 324,000 metric tons in September to 228,500 tons in the month that just ended.

The reasons are the lack of diluents used to make exportable grades of crude and power outages, which forced the closure of a crude upgrader.

In general, Venezuela’s oil exports fell in October to less than 700,000 barrels per day, a drop that represents 19% less than the previous month. Its main destination is China, followed by the United States.

Crude oil production in the Andean country fell to 762,000 bpd in September, from 820,000 bpd in August, according to figures reported by the Organization of Petroleum Exporting Countries (OPEC).

The arrival of a little oil in Cuba can be felt in the life of the population. On Wednesday, after several days of not reporting blackouts due to a lack of generation capacity, the Electrical Union (EU) continued its forecasts for power outages, and announced the impact of 230 MW during peak hours .

This Thursday, the EU estimates for the peak hour the availability of 2,515 MW and the peak demand of 2,620 MW, for a deficit of 105 MW, so the impact of 175 MW is predicted.

In mid-October, the United States partially lifted sanctions on the oil and gas sector in Venezuela, after Nicolás Maduro signed an agreement with the opposition to hold elections next year.

But, on Monday Venezuela’s Supreme Court of Justice announced the suspension of the primary opposition electionswon by María Corina Machado, coordinator of Vente Venezuela, after Washington warned the Chavista regime that sanctions could return if its government does not allow candidates to participate freely.

In her first statements after being selected as the unitary opposition candidate for the 2024 presidential elections, Corina Machado stated that if she wins, His government will cut off the free supply of oil to Havana.

“If they pay, the oil can continue to be sent to them,” he said.

World Nation News Desk
World Nation News Desk
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