The effort by state oil firm Petroleos de Venezuela (PDVSA) and the state-owned National Iranian Oil Refining and Distribution Company (NIORDC) to boost fuel output at the Paraguana Refining Center marks a step toward ending Venezuela’s reliance on U.S. refinery technology, the sources said.
What happened at Venezuela’s largest oil refining center?
Written by Deisy Buitrago and Mircely Guanipa for Reuters -> CARACAS, March 15 (Reuters) – Power was re-established at Venezuela’s largest oil refining center, the 955,000-barrel-per-day Paraguana Refinery Complex, following a blackout that left the facility’s twin refineries out of service earlier this week, workers said on Friday.
What is the largest refinery in Venezuela?
The Amuay refinery is the largest refinery in Venezuela with an installed capacity of 645,000bpd. The processing facilities at the refinery include five primary distillation units, a 100,000bpd catalytic cracking unit, a flexicoking unit, and a delayed coking unit. The Cardon and Amuay refineries are connected by multiple pipelines.
Will Chevron be able to produce crude oil in Venezuela?
Much of Venezuela’s crude oil production capacity and infrastructure have suffered from a decade-long lack of capital and regular maintenance. Chevron’s earlier exemption increased its production to 135,000 barrels per day (b/d) in 2023, and we expect Chevron’s output in Venezuela to reach 200,000 b/d by the end of 2024.
Where does Venezuela export crude oil?
Most of the remaining crude oil was destined for India, China, and Europe. Venezuela has seven crude oil export loading points, in practice; however, most of its crude oil exports are routed through the Puerto Jose terminal, which is located offshore of the Jose industrial complex in northeastern Venezuela.
How much oil does Venezuela produce in 2023?
Despite the sizeable reserves, Venezuela produced 0.8% of total global crude oil in 2023. Most of Venezuela’s proven oil reserves are extra-heavy crude oil from the Orinoco Belt.