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| Pdvsa has given Iran, Belarus and Portugal 88,000 bpd of oil |
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The 2010 annual management report of state-run oil holding Petróleos de Venezuela (Pdvsa) provides for shipment to Portugal, Iran and Belarus under the agreements on supply of crude oil and byproducts. Pdvsa specified that around 88,000 barrels per day (bpd) of crude oil and byproducts were shipped to its counterparts of those three countries in 2010. No further details as to individual destination were provided. In addition, the exponential increase in the volume supplied to Portugal, Iran and Belarus last year, compared to 5,000 bpd each year in 2008 and 2009, was underscored. Sales of Venezuelan crude oil and byproducts to Iran were agreed in September 2009, when Venezuela's President Hugo Chávez signed in Tehran a supply agreement whereby Venezuela would dispatch around 20,000 bpd of gasoline to Iran, beginning in October 2009. The agreement was valued at USD 800 million. Sale revenues would be deposited in a special fund to cover expenses for the purchase of technology, machinery and services of Iranian providers. Nevertheless, as reported in October 2010 by Venezuela's Minister of Energy and Petroleum Rafael Ramírez, "Iran resolved the issue of gasoline (...) Some components it needed are being produced there. Venezuela is not selling gasoline to Iran anymore." With regard to the oil shipments to Belarus, in March 2010, the Venezuelan government reported that 80,000 bpd would be sent to process Venezuelan oil in a local refinery. The amount was expected to heighten up to 10,000 bpd. However, it is unlikely that Pdvsa has attained this goal. (Source: Eluniversal)   Socialize this Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader
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