U.S. oil sale ban to Venezuela’s PDVSA would hit refining, blending

31 Jul 2017   Venezuela

HOUSTON (Reuters) – Potential U.S. sanctions on sales of light crude to Venezuela’s oil company PDVSA would hamper its already weak refining network while leaving at least one tanker in limbo, according to a source from the state-run firm and Thomson Reuters data. U.S. officials said the Trump administration is expected to announce new sanctions on Venezuela’s oil sector in response to Sunday’s election of a constitutional super-body that Washington has condemned. Even though the White House has said that “all options are on the table,” the most likely action, banning Venezuela from importing U.S. oil, could come as early as Monday. PDVSA has this year imported 87,000 barrels per day (bpd) of U.S. refined products to compensate for its ailing refining network, which has this year operated at less than half its capacity due to lack of crude, frequent outages and lack of spare parts. About a half […]

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