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Free AccessVenezuelan Refining Languishes Further
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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.