(Energy Analytics Institute, Aaron Simonsky, 16.Jan.2017) – Refining utilization rates at PDVSA’s six domestic refineries averaged 30.7 percent in 2016 owing to permanent and temporary plant shut downs, and continued problems procuring replacement parts all due to finance issues.
PDVSA’s domestic refineries – Amuay, Cardón, Bajo Grande, Puerto la Cruz, El Palito and San Roque – which have a combined installed processing capacity of 1,303,000 barrels per day only processed an average 400,000 barrels per day in 2016, said oil union official Iván Freites, who represents the United Federation of Venezuelan Oil Workers (FUTPV) in an phone interview from Punto Fijo.
Cash-strapped PDVSA, as the state oil company is known, needs a cash infusion of $5bn to boost the utilization rates to 60 percent, he added.
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