Venezuelan state-run oil firm PDVSA has been unable to resume crude exports at i...
CARACAS/PUNTO FIJO, Venezuela - Venezuelan state-run oil firm PDVSA has been unable to resume crude exports at its primary port since last week’s blackout, according to people familiar with the matter, indicating that the country’s massive power outage is crippling the OPEC nation’s principal industry.
Power remained patchy in most of the country after a blackout on Thursday that the government of President Nicolas Maduro claimed was a U.S.-backed act of “sabotage” on the country’s principal hydroelectric dam.Authorities have given few explanations about why the blackout occurred and how long it might take to resolve, spurring fears it could be indefinite.
“It has been totally halted since the blackout. It has affected all of Jose’s oil installations,” another source said, adding that a restart would be costly and require power lines to be replaced.No oil export tankers have left Jose since March 7, according to Refinitiv Eikon data. There were a few shipments between domestic ports on Saturday, when power briefly returned, but another outage that lasted through Sunday halted operations again, according to the data.
But the current outage has been much more widespread and prolonged than those in the past. The status of the generators that PDVSA and its private partners use in upstream activities was unclear.
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