Venezuela this month plans to import over 300,000 barrels per day (bpd) of refined products to ease domestic fuel shortages caused by hobbled refineries and need to prioritize exports, according to internal documents seen by Reuters.
The country with the world’s largest crude reserves this year has not been able to make enough fuel to meet local demand and fulfill supply contracts with customers, including those under oil-for-loan agreements with Russia and China, the documents showed.
