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Article: Venezuela - Caribbean Storage.
- Article from:
- APS Review Downstream Trends
- Article date:
- November 26, 2007
CopyrightCOPYRIGHT 2007 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PDVSA owns the key Borco storage and blending facility in the Bahamas. This is the centre from which PDVSA exports low-sulphur fuel oil (LSFO), on which the US Gulf Coast has been depending heavily. The facility was damaged in October 2005 by Hurricane Wilma. As a result, PDVSA declared force majeure on all sales from Borco, where up to 7m barrels of LSFO were trapped.
Borco is also the central unloading point for cargoes from North-West Europe and South America.
The hurricane destroyed one jetty and damaged another two, preventing tankers from loading or discharging. The Borco shutdown came amid unusually high and rising LSFO demand, as hurricane damage ...
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Article: VENEZUELA - The System.
APS Review Oil Market Trends;
November 26, 2007 ;
700+ words
... ... in Vol. 57, OMT 23 & 24). PdV Europa BV is in charge of the European business units. These include a 50% share in Ruhr Ol GmbH of Germany and AB Nynas Petroleum in Sweden. It also has a London subsidiary called PdV UK, with its main function being ...
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