Jose Terminal (Port)

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Latest news

Venezuelan Oil Port Repairs Delayed, Crude Exports Fail

(Reuters) – Repairs to a dock at Venezuela’s main oil export port will take at least another month to complete following a tanker collision more than a month ago, further restraining the OPEC member nation’s crude exports, according to sources and shipping data. A minor incident in late August forced state-run oil company PDVSA to shut the Jose port’s South dock, one of three used to ship heavy and upgraded oil to customers including Russia’s Rosneft and U.S.-based Chevron Corp, and to receive diluents needed for the exports. Jose port typically handles about 70 percent of Venezuela’s total crude exports, which in September declined 14 percent compared with the previous month to 1.105 million barrels per day (bpd), according to Refinitiv Eikon data. Oil exports are the financial backbone of Venezuela’s economy, which is struggling to overcome hyperinflation, a long-standing recession and scarcity of basic goods.

Venezuela’s PDVSA to reopen damaged Jose port dock by month’s end

Venezuela’s PDVSA expects to reopen its main port’s South dock by the end of September, easing strains on crude exports delayed due to a tanker collision last month, according to internal trade documents from the state-run oil firm seen by Reuters. The South American country’s crude exports have remained slow in recent weeks as few customers have accepted the 500,000-barrels-per-cargo maximum neighboring terminals can handle.Source: Reuters

Venezuela’s Main Oil Port Partially Operating After Tanker Allision

(Reuters) – Venezuela’s main oil port of Jose is operating partially after a tanker collided with a dock at the weekend, curtailing state-run PDVSA’s ability to export upgraded crude and receive imported diluents, three sources with knowledge of the incident said on Tuesday. PDVSA has been struggling this year to deliver exports on time to most customers because of falling oil output, legal actions by creditors aimed at seizing overseas assets and U.S. sanctions. In July, Venezuela’s crude production fell to its lowest level in over 60 years. Crude exports from Jose were running earlier this year at about 900,000 barrels per day (bpd), according to Thomson Reuters data. Some 60,000 bpd of naphtha imports, which is used to dilute Venezuela’s extraheavy crude for export, also are received at the terminal.

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