(Energy Analytics Institute, Piero Stewart, 25.Nov.2019) — OPEC member country Venezuela reportedly shipped a cargo of petroleum coke to Cuba valued at an estimated $1.7 million, according to sources in Punto Fijo, Venezuela.
A cargo of 26,000 metric tons of petcoke was loading onto the Lagonda tanker on 24 Nov. at the Cardon refinery before setting sail for Cuba, oil union official Ivan Freites said 25 Nov. in a Twitter post, citing a coke price of $65 per ton.
Petroleum coke is used by the electric power and industrial sectors, as a fuel input or a manufacturing raw material used to produce electrodes for the steel and aluminum industries, according to details posted on the website of the US-based Energy Information Administration (EIA).
The shipment comes as recent data reveals direct Venezuelan oil exports to China plunged to zero in October, a level not seen in nine years.
© Energy Analytics Institute (EAI)