Post by ukipa on Mar 2, 2012 19:10:05 GMT 4
Oil exports to the US go down as opposed to the shipments to Asia
ERNESTO J. TOVAR | EL UNIVERSAL
Friday March 02, 2012 09:46 AM
Selling Venezuelan crude oil to the United States gradually loses weight as the Venezuelan government makes trade, energy and political deals with emerging powers, such as China or India.
The statistics of the US Department of Energy show that in 2011, Venezuela sold on average 868,000 barrels per day of crude oil to the United States, the lowest selling volume ever recorded since 825,000 bpd in 1992.
Nonetheless, in 1992, Venezuelan oil sales accounted for 45% of US imports. In 2011, the proportion sank to 35%, as evidence of Venezuelan's lower profile as energy supplier for the United States.
A comparison of the Venezuelan oil sales to the United States between 2011 and 2010 shows a 4.7% plunge in shipments. In 2010, 912,000 bpd were exported on average.
Venezuelan oil sales to the United States have slowed since 2007. Concomitantly, the Venezuelan government is moving closer to China and other Asian consumers.
In 2007, oil shipments to the United States amounted to 1.14 million bpd; in 2008 totaled 1.03 million bpd and in 2009 reached 951,000 bpd.
As regards the sales of byproducts, in 2011, 76,000 bpd were exported, virtually same as 75,800 bpd in 2010, and very far away from a peak of 378,000 in 1997.
At the same time, shipments of Venezuelan crude oil and byproducts to China have shot up to 460,000 bpd under the payment scheme of the Chinese Fund and supply agreements. State-run oil holding Petróleos de Venezuela (Pdvsa) expects this volume to reach 500,000 bpd in 2013.
ERNESTO J. TOVAR | EL UNIVERSAL
Friday March 02, 2012 09:46 AM
Selling Venezuelan crude oil to the United States gradually loses weight as the Venezuelan government makes trade, energy and political deals with emerging powers, such as China or India.
The statistics of the US Department of Energy show that in 2011, Venezuela sold on average 868,000 barrels per day of crude oil to the United States, the lowest selling volume ever recorded since 825,000 bpd in 1992.
Nonetheless, in 1992, Venezuelan oil sales accounted for 45% of US imports. In 2011, the proportion sank to 35%, as evidence of Venezuelan's lower profile as energy supplier for the United States.
A comparison of the Venezuelan oil sales to the United States between 2011 and 2010 shows a 4.7% plunge in shipments. In 2010, 912,000 bpd were exported on average.
Venezuelan oil sales to the United States have slowed since 2007. Concomitantly, the Venezuelan government is moving closer to China and other Asian consumers.
In 2007, oil shipments to the United States amounted to 1.14 million bpd; in 2008 totaled 1.03 million bpd and in 2009 reached 951,000 bpd.
As regards the sales of byproducts, in 2011, 76,000 bpd were exported, virtually same as 75,800 bpd in 2010, and very far away from a peak of 378,000 in 1997.
At the same time, shipments of Venezuelan crude oil and byproducts to China have shot up to 460,000 bpd under the payment scheme of the Chinese Fund and supply agreements. State-run oil holding Petróleos de Venezuela (Pdvsa) expects this volume to reach 500,000 bpd in 2013.