US oil imports from Venezuela down for third week

OREANDA-NEWS. June 05, 2015. US crude imports from Venezuela decreased for the third consecutive week following the restart of a refinery on the coast of Carabobo state.

The US imported an average of 759,000 b/d of Venezuelan crude oil during the week ended 29 May, down by about 12,000 b/d compared to a week prior and by 83,000 b/d compared to the week ended 8 May, according to preliminary weekly data by the US Energy Information Administration (EIA).

Much of the crude import drop is because Venezuelan state-owned PdV began to restart its 146,000 b/d El Palito refinery 21 May. It was expected to be fully operational by the end of May.

State-run utility Corpoelec said heavy rains on 20 May damaged the Planta Centro-Moron substation that supplies the refinery. Heavy rains and lightning also damaged transmission lines along Venezuela's coastal region and triggered a 24-hour blackout in five states including Carabobo, Falcon, Lara, Vargas and Yaracuy, Corpoelec added.