Español

 

Guyana


Trinidad
& Tobago




Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

U.S. sanctions bite Venezuela oil exports vessels avoid regime

Ali Mohammadi/Bloomberg

Venezuela Can't Find Vessels to Ship Its Oil as Sanctions Bite

- At least one oil cargo was deferred to October on lack of ship
- Oil exports may fall in September as shipowners retreat

By Lucia Kassai / Bloomberg

HOUSTON
Petroleumworld 09 13 2019

Exports of sanction-hit Venezuelan oil now face a new concern: a shortage of vessels willing to transport crude produced by the regime of President Nicolas Maduro.

Shipowners are avoiding transporting Venezuelan oil for fear of being sanctioned and losing insurance coverage on their vessels, according to people with knowledge of the situation. The lack of vessels may take a toll on oil exports which, according to data compiled by Bloomberg, was already at a 16-year low in August.

At least one cargo of Venezuelan oil was deferred to October as the buyer couldn't find a vessel to load, said one of the people, who asked not to be identified because the information is confidential. Unable to find supertankers to carry its oil to Asia, the OPEC producer is resorting to smaller, costlier vessels to deliver overseas .

U.S. President Donald J. Trump signed an Aug. 5 order authorizing sanctions on anyone helping the Maduro regime amid a humanitarian crisis that has caused 4 million Venezuelans to flee the country. The Shipowners' Club, provider of insurance to international shipping companies, advised its members to “exercise caution” if engaging with Venezuela . The group says if a member is sanctioned, its property can be blocked and the club may terminate or suspend insurance coverage.



Story by Lucia Kassai from Bloomberg.

bloomberg.com / 09 12 2019

________________________


We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.

________________________

Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1


TOP

Contact: editor@petroleumworld.com,

Editor & Publisher: Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld ™  / Elio Ohep - All rights reserved


This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.