Fuel Shortages in Venezuela Worsen As Refineries Operate at 40 Percent Capacity

10 Jul 2017   Venezuela

Venezuela, the nation with the world’s largest oil reserves, is experiencing fuel shortages (Flickr). In a country where basic necessities such as drugs and food are scarce, it would not be surprising that there was also a shortage of fuel. Even though Venezuela is an oil country with 18 refineries throughout the world and six within the country, the financial difficulties of Petroleos de Venezuela to import enough fuel, compromises the supply of gasoline in the domestic market. Read More: Venezuela and Colombia Team Up to Combat Rampant Fuel Smuggling Read More: Oil Rich Venezuela Paralyzed by Gasoline Shortages According to the trade union representative of the Venezuelan Federation of Petroleum Workers, Iván Freites, “there is a daily supply deficit of between 75,000 and 125,000 for gasoline and between 80,000 and 90,000 for diesel.” Freites explains that the country’s refineries only operate at 40% of their capacity, so fuel […]

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