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Article: VENEZUELA - Venezuelan Exports.
- Article from:
- APS Review Oil Market Trends
- Article date:
- November 19, 2007
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In 2007, PDVSA crude oil and products exports are expected to average 1.3m b/d, down from 1.41m b/d in 2006 and about 1.5m b/d in 2005. Venezuela's share of US imports has fallen from 50% in 1960 to 10% in 2006. The US Gulf Coast is the largest recipient, with refineries there configured to handle heavy PDVSA crudes. Other important destinations include the Caribbean, South America and Europe, though much of the crudes sent to the Caribbean are later re-exported as petroleum products to the US.
In recent years, Caracas has diversified its export destinations away from the US. China is one of the fastest growing destinations, with exports to that country now ...