Refining of Venezuela is so reduced production that the state oil company PDVSA had to start purchasing their fuel overseas. This was stated by the head of the Union of oil workers of the country, Ivan Freitez.
In particular, the performance of the largest refineries of the Paraguana complex has decreased by half, reports Reuters. Thus, the company Amuay processes only 360 thousand barrels per day, with the capacity of 645 thousand barrels. And Cardon refinery — 110 thousand barrels in a planned daily productivity of 310 thousand barrels.
In General, in the beginning of this month refining on the Paraguana fell to a historic low. Authorities believe that this was the result of deliberate sabotage by the opponents of the current President Nicolas Maduro and his government.
Sabotage or not, but PDVSA was forced to declare an auction for the import of 300 thousand barrels of catalytic naphtha and 300 thousand barrels of high-sulphur diesel fuel. Delivery is scheduled for may.
Retail gasoline prices in Venezuela has increased in 60 times, although the fuel is still one of the cheapest in the world. In particular, informed the Venezuelans were buying gasoline for Bolivar 0,097 per liter, even at the official rate of the national currency is 1.5 us cents.
However, in late winter, President Maduro stated that releases fuel prices. Now the cost of gasoline with an octane rating of 91 is at the pump 1 Bolivar, and 95th — 6 bolivars. “We have the cheapest gasoline in the world, this measure is necessary to balance the situation,” the President said.
Nicolas Maduro in 2014 talked about the need to release the price of gasoline, because the government is spending on subsidizing cheap fuel for 12.5 billion dollars annually. Until recently, however, he did not dare to enter this tough measure.
But in February the country’s Supreme court actually gave the Venezuelan President a resolution on the introduction of the “emergency economic situation”, and Maduro has taken off the gloves. In addition to the liberalization of the gasoline market, it devalued the Bolivar from 59%.
