Venezuelan
crude sales to the United States recovered in April compared to previous months
to reach 741,000 barrels per day (bpd), its highest level since November, due
to
a larger supply of diluted and upgraded oil, according to Thomson Reuters
trade flows data.
Oil
upgraders capable of converting Orinoco Belt's extra heavy crude into
exportable grades have increased processing in recent weeks after working
partially earlier this year, allowing more exports, sources close to the
projects said.
Sales of
Zuata 30, Venezuela's lightest upgraded crude, to the United States almost
doubled to 178,000 bpd in April compared with the previous month, according to
the data.
Exports of
diluted crude oil (DCO) made with extra heavy oil and heavy naphtha increased
17 percent compared to March.
The United
States imported a total of 42 cargoes of Venezuelan crude in April. The largest
receiver was PDVSA's refining unit Citgo Petroleum, followed by Valero Energy (VLO.N)
and Phillips 66 (PSX.N).
Even though
PDVSA has recently increased crude exports, its sales of refined products have
decreased amid very low processing at Venezuela's refining network.
PDVSA's
187,000-barrel-per-day Puerto la Cruz refinery is operating at minimum levels
after two of its three distillations units were halted due to lack of available
crude and equipment malfunctioning, affecting exports of products such as jet
fuel.
The firm
also is regularly importing U.S. light crude through a rented storage facility
in the island of Curacao.
The tanker
NS Champion chartered by China's state-run oil firm CNPC has been waiting to
discharge at Curacao's Bullenbay terminal after arriving earlier this week from
the U.S. Gulf Coast.
REUTERS*
0 Comments