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Report Suggests Venezuela Oil Tankers Showing Physical Deterioration

OIL

An internal PDVSA report suggests more than half of the 22 oil tankers in Venezuela's fleet should be immediately repaired or taken out of service according to Reuters.

  • Years of deferred maintenance had left the entire fleet with "low levels of reliability," at risk of spills, sinking, fires, collisions or flooding.
  • The deterioration of the fleet has forced PDVSA to charter tankers to move its oil.
  • The report recommended withdrawing five tankers from active use and sending seven to shipyards for major repairs.

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