Tanker collision cuts Venezuela crude exports

A weekend tanker collision at Venezuelan state-owned PdV's Jose terminal in eastern Venezuela has temporarily reduced crude exports by some 200,000 b/d until "slight structural damages" are repaired, the energy ministry said.

Before the collision that took place at the terminal´s south wharf, Jose was exporting about 950,000 b/d of crude, mainly Merey 16 blend, and importing nearly 60,000 b/d of naphtha used to produce Orinoco diluted crude oil (DCO).

Naphtha imports will not resume until the south wharf is reopened to operations because Jose currently has no spare capacity, a ministry official said. The wharf was affected structurally and will remain out of service "for the timebeing."

The energy ministry declined to name the tanker involved in the collision, but one shipbroker identified the vessel as Greek-flagged Panamax Meganisi.

PdV's Jose terminal consists of three wharfs – south, east and west – plus two monobuoys used to export DCO, Merey 16 and synthetic crude produced by the company's four heavy crude upgraders at Jose.

Jose was operating at around 60pc of the terminal's peak crude loading capacity before the tanker collided with the wharf.

The energy ministry declined to explain what caused the collision. PdV also declined to comment.

Venezuelan crude exports go mainly to the US, India and China.