Monday, May 14, 2018

PDVSA Suspends Oil Storage, Shipping From Caribbean

State-run PDVSA has suspended oil storage and shipping from its Caribbean facilities following legal actions last week by ConocoPhillips to temporarily seize the Venezuelan firm's assets in four islands, according to a PDVSA source and Reuters data.

The Venezuelan company has begun concentrating most of its shipping operations for export at its main crude port, Jose, as two additional terminals in Venezuela are limited in receiving more vessels, the source said.

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