top quality how oil refinery in venezuela

                                               
                                               
                                               
                                               
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  • Which refiners rely on Venezuela?
  • Other refiners such as Chalmette, Saint Charles, and Texas City are highly dependent on Venezuela for more than 60% of their total imports. The average crude quality imported by the refiners running Venezuelan crudes involves a 21.8 degree API and 2.7% sulphur spec crude. Replacing such barrels will be a tall task.‌
  • How much oil does Venezuela produce in 2023?
  • Despite the sizeable reserves, Venezuela produced 0.8% of total global crude oil in 2023. Most of Venezuela’s proven oil reserves are extra-heavy crude oil from the Orinoco Belt.‌
  • Which country imports the most crude oil from Venezuela?
  • The United States had historically been the primary destination for Venezuela’s crude oil shipments, and at its peak in 2007, U.S. imports of Venezuela’s crude oil averaged 1.1 million b/d.‌
  • Why did Gulf Coast refiners not buy Venezuelan crude?
  • “With oil sanctions in 2019, Gulf Coast refiners couldn’t buy Venezuelan crude, so they had to seek producers elsewhere, further away. You then got shipments from Russia, Iran, Nigeria, and so on. But now there’s trouble with other suppliers too,” he says.‌
  • Is Venezuela’s crude oil production on a downtrend?
  • Venezuelan crude oil production has been on a downtrend for years. This is true across all crude grades, but from a composition standpoint, the heavies and extra heavies now make up over 71% of total Venezuelan crudes compared to sub 60% in 2013. In other words, the type of barrel produced is heavier than in the past.‌
  • Why is Venezuela turning to Russia & Mexico for crude oil?
  • Venezuela has been Cuba’s main political ally as well as its largest supplier of crude oil and fuel for over two decades. Cuba is increasingly turning to Russia and Mexico for crude oil to alleviate a severe diesel and gasoline shortage and supplement Venezuela’s crude oil.