Venezuela Briefs: Black Mkt Gasoline; Diesel Demand

(Energy Analytics Institute, 3.Nov.2020) — Energy briefs from Venezuela on prices for black market gasoline reaching $11.36 per gallon and refineries owned by Petroleos de Venezuela (PDVSA) only producing enough diesel to cover 25% of domestic demand.

Heard: Black Market Gasoline Reaching Price Of $11.36 Per Gallon

Gasoline in the Venezuelan black market, which was recently found between $1 per liter ($3.76/gallon) and $1.30 per liter ($4.92/gallon), can now be found closer to $3 per liter ($11.36/gallon), sources in Caracas tell Energy Analytics Institute (EAI).

PDVSA Refineries Produce 25% Of Diesel Needs

State oil company PDVSA owns and operates six refineries with a combined nameplate capacity of 1.3 million barrels per day. However, years of corruption and neglect mean the refineries today are only producing enough diesel to cover 25% of Venezuela’s domestic demand, oil union official Ivan Freites announced 2 November 2020 in a post on Twitter. Venezuela’s diesel demand is around 100,000 b/d, of which PDVSA’s refineries only produce around 25,000 b/d, the official wrote.

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.