Two PdV upgraders to restart by tomorrow

Venezuelan state-owned PdV is resuming attempts to restart its three functioning heavy crude upgrader units following more than a month of repeated power outages, according to a senior PdV official.

The Opec country's crude production has plummeted since a catastrophic string of nationwide blackouts began on 7 March. The three upgraders, which date from the 1990s, have design capacity to produce more than 450,000 b/d of synthetic crude grades.

PetroPiar, in which Chevron holds a 30pc stake, is scheduled to restart this afternoon. The project, originally named Ameriven before the upgraders were nationalized in 2007, has a capacity to convert 190,000 b/d from the Orinoco heavy oil belt into 170,000 b/d of 26°API synthetic crude for export. ConocoPhillips was one of the project´s original partners.

PdV plans to restart PetroCedeno tomorrow. Initially known as Sincor, PetroCedeno´s minority partners are Total with a 30.3pc stake and Equinor with 9.7pc. PetroCedeno has a capacity to process 202,000 b/d of extra-heavy crude into 180,000 b/d of 32°API syncrude.

PetroMonagas, of which Russia´s state-controlled Rosneft holds a 40pc stake, is scheduled for start-up on 24 April, after its furnaces are repaired, the official said. The project has design capacity to upgrade 120,000 b/d of Orinoco production into 104,000 b/d of 16°API syncrude. Prior to nationalization, PetroMonagas was known as Cerro Negro, in which ExxonMobil was PdV´s main partner.

PdV wholly owns a fourth upgrader, now known as Petro San Felix, which has been off line since last year. It was originally known as PetroZuata, with ConocoPhillips as PdV´s partner. The project was designed to produce 120,000 b/d of heavy crude and upgrade it into 108,000 b/d of 22°API syncrude.

The four upgraders are located in Jose, an industrial complex and export terminal in Anzoategui state.

The complex relies on Venezuela´s national power grid, which remains unstable after years of neglect. Back-up generators for each upgrading project are not in service because of a lack of maintenance and spare parts.

PetroSinovensa, a heavy-crude blending joint venture with China´s state-owned CNPC, restarted yesterday. The plant has a capacity to blend about 90,000 b/d of Orinoco crude with domestic light crude to produce 165,000 b/d of 16°API Merey blend.

Before the blackouts, the joint ventures were already under pressure because of US oil sanctions that banned US sales of diluent to Venezuela starting in late January. PdV and its partners use naphtha to transport the Orinoco crude from the oil belt to Jose for processing, and had been exporting diluted crude oil (DCO) for production that exceeded processing capacity at Jose. DCO contains 30pc naphtha.