• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 34 mins Changing Gazprom ADRs to Russian shares
  • 2 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 21 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 2 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 5 days "How China Could Send LNG Prices Into The Stratosphere" by Irina Slav
  • 4 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 6 days The Federal Reserve and Money...Aspects which are not widely known
  • 7 days How Far Have We Really Gotten With Alternative Energy

Breaking News:

Buffett Boosts Oxy Stake Above 20%

NATO Chief: Russia Must Not Win Its War In Ukraine

NATO Chief: Russia Must Not Win Its War In Ukraine

NATO’s chief, Jens Stoltenberg has…

Venezuela’s Largest Oil Refinery Halts Production Amid Blackout

Operations at the biggest oil refinery in Venezuela have stopped following a blackout that was caused by an electrical fault, Reuters has reported, noting that the Amuay facility has a capacity to process 645,000 bpd.

"Blackout in the Amuay refinery. An electrical problem. Total blackout. In Amuay, the distilling and catalytic plants might be affected, which is currently producing about 80% of the country's gasoline," an unnamed source told Reuters.

Unless the problem is fixed quickly, it could become quite grave as Amuay is the only refinery at the Paraguana complex that produces gasoline, and Venezuela has been in the grips of regular gasoline shortages because of U.S. sanctions for years now.

Last month, PDVSA suspended gasoline production at the second-largest refinery in the country, Cardon, because of an outage at its naphtha reformer unit, per a Reuters report citing multiple sources. Like Amuay, the Cardon refinery is part of the Paraguana complex.

The Amuay facility was also shut down temporarily last year after a fire erupted in one of its gasoline production units.

Venezuela's PDVSA has a refining capacity of 1.3 million bpd, but utilization rates have been falling for several years because of U.S. sanctions as well as technical problems caused by mismanagement, including lack of investment and lack of maintenance.

Venezuela has emerged as one source of fresh oil supply amid sanctions on Russian crude but it has proven harder than probably expected in Washington to mend fences with the Maduro government.

U.S. officials have visited Venezuela at least two times this year, the most recent one focusing on negotiations for the release of several U.S. citizens held in Venezuela, according to U.S. sources.

The underlying reason, however, is securing crude oil amid the global shortage caused by the imbalance between demand and supply that started amid the pandemic and only got worse after Western sanctions against Russia took effect.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • DoRight Deikins on July 04 2022 said:
    Ouch! Not a good thing to lose electrical power in a CDU, especially with as heavy as Venezuelan crude tends to be.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News