Second Algerian Crude Cargo Sails to Venezuelan Port

Source: Reuters 11/7/2014, Location: Africa

A second tanker carrying Algerian light crude for Venezuela's state-run PDVSA has sailed from Bejaia port and is scheduled to deliver up to 2 million barrels at Jose terminal on Nov. 17, according to Reuters vessel tracking data.

Venezuela last month started importing crude for the first time in its history, to be used as diluent for its growing extra heavy output as its own light and medium crude production declines and naphtha purchases are no longer affordable.

The first cargo, the very large crude carrier (VLCC) Carabobo, delivered 700,000 barrels of Algerian Saharan Blend crude in Jose two weeks ago and later sailed to the Caribbean island of Saint Eustatius, where PDVSA leases storage and blending facilities.

The second tanker, the VLCC Boston, under a Liberian flag, was hired in October as part of a supply contract recently signed by PDVSA and Algeria's state-run oil company Sonatrach.

Venezuela, with the world's largest crude reserves, last month confirmed imports. But it has not elaborated about expected volumes or a time frame for the purchases.

Two 1-million-barrel cargoes of Russian Urals crude are also expected to arrive in November at PDVSA's Isla refinery in Curacao, after being bought from PetroChina in recent weeks.

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects


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