Venezuela’s fleet of oil tankers idled around the world over lack of parts, unpaid bills or they’re too dirty to sail - News Summed Up

Venezuela’s fleet of oil tankers idled around the world over lack of parts, unpaid bills or they’re too dirty to sail


The vessel is among many that are constantly contaminated at two major export terminals where they load crude from Venezuela’s state-run oil company, PDVSA. Neither PDVSA nor Venezuela’s Oil Ministry responded to requests for comment about the firm’s maritime operations. Because Venezuela relies on oil for more than 90 percent of export revenues, the problems of its state-run oil company pose a national crisis. That is more than double the number of vessels it typically leases to complement its own fleet of tankers, according to the sources. Once the pride of the country’s economy, the state-run firm saw crude production plummet last year to a 23-year low.


Source: National Post April 18, 2017 16:59 UTC



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