Page 9 - LatAmOil Week 04 2021

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The talks have been contentious, though, and the decline that had seen it incur $1bn worth of
the government has rejected two revised offers losses between 2014 and 2019.
for the plant within the last three months. At the time, officials in Port of Spain said that
Petrotrin, which is currently owned by the they were looking for an investor who could
state, has been idle for the last two years. The pump about $4bn into the plant – that is, $2bn
government shut the 140,000 barrel per day to cover unpaid debts and another $2bn to cover
(bpd) plant down in 2019, citing concerns operational expenses and pay for an overdue
about the refinery operator’s ability to reverse equipment upgrade. ™

VENEZUEL A
Pipeline rupture reduces gasoline

output at PdVSA’s Cardon refinery

VENEZUELA’S national oil company (NOC) capital city Caracas have completely run out of
PdVSA has reportedly cut gasoline production fuel to sell.
at the Cardon refinery by more than 50% follow- The incident marks the fourth rupture along
ing a pipeline rupture. the Ule pipeline’s underwater section since Feb-
The Cardon plant, which has a throughput ruary 2020. PdVSA has been hard-pressed to
capacity of 305,000 barrels per day, had been repair and maintain its infrastructure in recent
turning out around 55,000 bpd of gasoline as years, not least because of the US sanctions
of mid-January. On January 22, though, Argus regime, which aims to discourage investment in
Media said that the figure had dropped to about Venezuela’s oil sector. ™
20,000 bpd after the failure of an underwater
section of the 230-km Ule pipeline, which runs
from the eastern coast of Lake Maracaibo to the
complex that houses the Cardon refinery.
Some sources reported that a natural gas
pipeline that parallels the Ule link had also rup-
tured on the same day. As of press time, though,
those reports could not be confirmed.
The Cardon facility is part of the CRP refin-
ing complex, which also includes the 635,000
bpd Amuay plant. It is the only section of the
complex that is still producing gasoline.
The pipeline rupture is therefore expected
to exacerbate Venezuela’s widespread gaso-
line shortage. Many filling stations outside the Gasoline shortages are already widespread in Venezuela (Photo: FEE.org)

SURINAME
Tullow gears up to spud GVN-1

exploration well at Block 47

TULLOW Oil (UK/Ireland) is due to begin Goliathberg Voltzberg North-1 (GVN-1)
work on a new exploration well at Block 47 off- well earlier this week. The vessel did not begin
shore Suriname this week. drilling work immediately but is anticipated to
According to Ratio Petroleum (Israel), spud GVN-1 within the next few days, Ratio
a non-operating partner in the project, the explained in an email message to Offshore Engi-
Stena Forth drillship arrived at the site of the neer on January 25.

Week 04 28•January•2021 www. NEWSBASE .com P9