Some tankers even stayed on the sea for 6 months because they could not find buyers.
(Source: Zitu.com )
According to reports, many tankers carrying Venezuelan crude oil are currently floating at sea. These tankers carry a total of at least 18.1 million barrels of oil. Judging from Venezuela’s current oil production rate, This is equivalent to two months of the country’s oil production. Some oil tankers were left adrift on the sea for six months because they could not find buyers for their oil. Many potential and old customers of Venezuelan crude oil do not dare to risk participating in Venezuela’s oil trade for fear of incurring secondary sanctions from the United States.
Reuters, based on a combination of shipping data, industry news and PDVSA documents, estimated that there are at least 16 tankers idle off the coast of Africa and Southeast Asia because Few potential buyers would risk U.S. sanctions by dealing with Venezuela’s Maduro government.
The reason why no one cares about Venezuela’s crude oil is mainly because the U.S. government has increased pressure on Venezuela’s oil industry and export trade in the past few months in an attempt to cut off Maduro. sources of government revenue.
U.S. sanctions are not just words, many companies have experienced them personally.
Earlier this year, the United States imposed sanctions on Rosneft’s Swiss-based trading arm and signaled its readiness to further tighten sanctions on the Venezuelan government.
In early June, the U.S. Department of the Treasury listed three shipping companies registered in the Marshall Islands, a Pacific island country, and one shipping company registered in Greece as sanctions entities for the same reasons. Businesses involved in Venezuela’s oil trade.
Last week, the U.S. Treasury Department blacklisted three individuals and eight foreign companies and designated two vessels as blockaded property over their involvement in Venezuelan crude transactions, regardless of U.S. sanctions. The U.S. Treasury Department said one of the companies sanctioned was Mexican importer Libre Abordo and its subsidiary Schlager Business Group.
However, it is worth noting that Venezuelan crude oil has continued to arrive in China in recent months.
According to reports, a tanker carrying 515,000 barrels of Venezuelan crude oil was delivered to the “Voyager” tanker in Qingdao in February 2020, and another tanker carried 500,000 barrels. Venezuelan crude oil tankers were also transported to the South China Sea at the end of May 2020 and delivered to the EUROFORCE tanker.
What is certain is that after being sanctioned by the United States, Venezuela’s domestic situation has become more tense, and the government’s financial situation has continued to deteriorate.
Data collected by foreign media show that Venezuela’s oil exports fell by nearly 28% in early June, falling to near the lowest level in the past 70 years. Venezuela’s current oil exports are 325,000 barrels per day, down from 452,000 barrels per day in May (which was a 17-year low). </p
