Heard Venezuela: Iranian Asset Takeovers

(Energy Analytics Institute, 5.Dec.2020) — Rumors are that Iranian businesspersons and their companies are in the process of taking over operations at Venezuela’s six refineries while also looking to do the same at petrol stations across the OPEC country.

Venezuela’s state oil company Petroleos de Venezuela (PDVSA) owns six refineries across the South American country with refining capacity of 1.3 million barrels per day, although they are collecting processing on average between 10% and 15% due to ongoing operational issues.

Venezuela’s shortages of gasoline and diesel are due to refinery issues, among others affecting cash-strapped PDVSA.

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