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U.S. restrictions on Venezuelan exports will tighten further in May, when the grace period for winding down purchases expires for importers of Venezuelan oil who use U.S real gold cufflinks india. subsidiaries or the U.S. financial system for transactions. “(We will) continue to take action to ensure Venezuela’s energy resources are preserved for the legitimate government of interim president Juan Guaido, for the people of Venezuela, and the reconstruction of a country destroyed through mismanagement and corruption,” a senior U.S. administration official told Reuters on Tuesday..
U.S real gold cufflinks india. President Donald Trump is considering imposing sanctions on companies from other countries that do business with Venezuela, White House national security adviser John Bolton told Reuters TV on Friday. Most oil shipments in February and March were destined for Asia. Until the sanctions, the United States was Venezuela’s largest crude buyer. “Given the new set of challenges that landed on PDVSA’s lap, we were surprised to see a rebound in exports amid the nationwide power blackouts,” said Samir Madani, co-founder of TankerTrackers.com, a service that tracks oil shipments and storage..
Exports dipped below 650,000 bpd during the blackouts, TankerTrackers estimates. Two massive power outages in March caused Jose port, the country’s largest crude terminal, to shut for at least six full days, according to the Eikon data. PDVSA was able, however, to offset delays caused by the blackouts by loading larger vessels bound for Asia. Shipping data shows the company plans to do the same again in April. Cargoes sent to India, China and Singapore – a hub for storage and re-exports – made up 74 percent of total exports in March, compared with almost 70 percent in February real gold cufflinks india.
Exports to Europe accounted for 17 percent of the total, versus 22 percent the previous month. PDVSA also continued exporting oil to Maduro’s ally Cuba. At least seven small cargoes were sent from its ports in March, totaling 65,520 bpd of crude and fuel, according to the data. Guaido last month said shipments to Cuba should be halted real gold cufflinks india. But PDVSA, controlled by a military leadership loyal to Maduro, has continued exports to the island. The state-run company did not respond to a request for comment..
Venezuela’s oil production once surpassed 3 million bpd, but years of what critics say is mismanagement and corruption have caused that output to dwindle. The reduction in oil revenue has led the once-prosperous nation into recession and created conditions for hyperinflation real gold cufflinks india. Millions have fled the country and many who remain cannot afford food or basic goods. Sanctions have made it difficult for PDVSA to take payment for its exports, said a PDVSA source, who did not want to be identified for fear of retaliation..