US accounts for 57 % of hydrocarbon export

May 03, 2004 02:00 AM

According to the Venezuelan Ministry of Energy and Mines, from the 1.5 mm barrels of crude oil and products that the country ships to the US per day, the largest part is linked to long term supply contracts (20 years) signed with US companies and even with subsidiaries of the Venezuelan petroleum state owned company PdVSA (Petroleos de Venezuela), such as Citgo.
According to the Ministry, the US account for 57 % of the Venezuelan hydrocarbon exports. PdVSA ships 250,000 bpd of crude to Citgo plus 60,000 bpd of extra heavy crude to Citgo Asphalt. A further 230,000 bpd are shipped to Lyondell-Citgo association.

Besides the contracts with Citgo, PdVSA has an agreement with Conoco Phillips to supply 165,000 bpd to Merey Sweeny; it also ships 270,000 bpd through two contracts to the refinery of Hovensa (in partnership with Amerada Hess) in Islas Virgenes; it supplies 90,000 bpd to the refinery of Chalmette; and it has a consortium with Chevron Texaco to ship between 20 and 30,000 barrels of crude.
In the total, the long term contracts with the US account for 1.08 mm bpd of PdVSA's crude exports.

Source: El Universal
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