The rising backlog, as PDVSA produces about 1.1 million barrels of crude per day, is rapidly filling the corporate’s onshore tanks, particularly on the Jose terminal, which receives additional heavy oil from the nation’s foremost output area, the Orinoco Belt, based on the paperwork.
PDVSA started draining a part of these inventories to grease tankers over the previous weekend, transport and firm information confirmed, a method it has resorted to in previous years to keep away from chopping again oil manufacturing.
Since PDVSA’s foremost joint-venture associate Chevron has not suspended exports of the crude grades they collectively produce, most inventories at Venezuela’s western area, the place storage capability may be very restricted, are near regular ranges, the paperwork confirmed.
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