Venezuelan Oil Sector Still Confronts Headwinds

(Energy Analytics Institute, 29.Jun.2021) — Venezuela continues to confront headwinds from legal uncertainties to transparency issues to a new tariff on its bitumen exports to China that make it hard for the country to boost production, former Petróleos de Venezuela (PDVSA) Director José Toro Hardy said on 29 June 2021 during an interview with Circuito Éxitos.

“There is a significant threat to the Venezuelan crude oil that we are exporting mainly to China, where a very high tax of almost $30 a barrel is being applied,” Hardy said during the interview. “The tax could discourage exports to that market, which, at this time, are the most important,” he said reporting to Venezuela’s export markets.

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