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Venezuelan Refining Languishes Further

REFINING

Venezuela’s 955,000 bpd Paraguana refinery is operating at about 10% of capacity on Monday according to Reuters sources after two CDU’s were shut because of a fire over the weekend and lack of feedstock. It has been operating at a fraction of its capacity for much of the last decade.

  • At the neighboring Amuay refinery, one of five CDUs was halted last week due to low crude inventories according to Reuters reports. Only one distillation unit remains in service, processing around 64,000 bpd.
  • It is not clear at present if easing US sanctions will help boost Venezuelan refinery runs in the short term.

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