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Report: PDVSA working on backup plan to deal with oil export issues

Petroleos de Venezuela SA (PDVSA) is devising a backup plan to deal with the latest export issue following a recent minor incident at Venezuela's main crude oil terminal, according to an Aug. 31 article from Reuters.

A tanker collision that caused the closure of the Jose Port's South dock has added to delays in loading crude for export to customers such as Russia's Rosneft Oil Co. PJSC, as well as Valero Energy Corp. and Chevron Corp., two sources told Reuters.

Oil tankers that were assigned to load diluted and upgraded crudes at the dock would be moved to the neighboring Puerto la Cruz terminal under the proposed plan. Vessels will be limited to up to 500,000 barrels each, one of the sources said.

It remains unclear how long the contingency plan could last.

PDVSA also is considering diverting imported naphtha tankers to Puerto la Cruz. The company imports naphtha to dilute the country's extra heavy oil and turn it into exportable grades.