Venezuela imports condensate to boost oil blending -documents

Photo: Carlos García Rawlins – Reuters


Venezuela’s state-run PDVSA began discharging 620,000 barrels of imported condensate crude oil at the nation’s largest oil port this week in an effort to boost blending operations, according to two company documents, sources and vessel tracking data.

By Reuters

Jul 22, 2021

Venezuela had not imported condensate since September, when it received a 2.1 million-barrel cargo from Iran, a political and commercial ally of President Nicolas Maduro that since 2020 has also supplied the South American nation with fuel.

PDVSA this year doubled down on efforts to boost blending and upgrading of crudes from the OPEC member country’s largest producing region, the Orinoco belt, in order to revive exports and resolve a deficit of oil for domestic refining.

The condensate cargo arrived in Venezuelan waters on Wednesday on the Panama-flagged vessel Rene, owned and operated by Fujairah-based firm Issa Shipping Fze, according to two PDVSA documents seen by Reuters, three shipping sources with knowledge of the import and monitoring service

Reuters could not independently verify Rene’s most recent port of departure as the tanker has had its transponder off for long periods of time this year. Refinitiv Eikon vessel tracking data showed it on its way to the Atlantic Ocean at the end of June.

PDVSA, Venezuela’s oil ministry and Issa Shipping did not reply to requests for comment.

Read More: Reuters – Venezuela imports condensate to boost oil blending -documents

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