Madrid/Venezuela exported this September 52,000 barrels per day (BPD) to Cuba, the most known amount so far this year and coinciding with the export record of the Venezuelan state oil company since February 2020, which exceeded the million long. This is, to date, the only month in which the island has received an amount that approaches what was agreed between the two countries in 2000 – in March was close, with 50,000 BPD – but the low amounts have dominated the first nine months of the year, so that Caracas will have violated the Pact of Hugo Chávez and Fidel Castro again.
This, at least, with the data available and provided monthly by the Reuters agency, although it is not ruled out that Havana is receiving out of the official PDVSA fuel channels, according to an alleged secret plan mentioned by President Miguel Díaz-Canel and the Minister of Energy Vicente of the O Levy. In addition, the last weekthe Akademik Gubkin with 740,000 barrels of Russian oil.
Despite the escalation of hostilities between the regime of Nicolás Maduro and the administration of Donald Trump, the results of the oil industry are winding wind for Venezuela
The island has suffered this September huge electricity deficits, although in the last days of the month there has been a slight relief, according to testimonies from different provinces. O Levy said weeks ago that the biggest problem has been the shortage of lubricants and not so much fuel.
Despite the escalation of hostilities between the regime of Nicolás Maduro and the administration of Donald Trump, the results of the oil industry go stern for Venezuela and the sales to the US also reach considerable volume 2025, record to date.
That month, shortly after the inauguration of the US president, the White House announced the end of the license that the administration of Joe Biden had granted to the Chevron company to operate in Venezuela. The first date that was established for the extinction of the document was on April 3, but then it was accepted to extend it until May 27.
A few days before the deadline expired, the American press announced that the Government had negotiated a new “minimum activity license” with which “essential maintenance operations” could be carried out, but not new investments and no oil export.
At the end of July the new concession was completed, of which more details have never been known than the alleged intention that a significant part of the money from the sale of oil cannot be transferred in any way to the Government of Nicolás Maduro and is deposited in frozen accounts outside of Venezuela. Last week, various specialized media They published that one of the conditions imposed by the US consists of a ceiling to the volume of sale, which cannot be more than 50% of what Chevron extracts in their wells.
Last week, several specialized media published that one of the conditions imposed by the US consists of a top of the sales volume, which cannot be more than 50% of what Chevron extracts in their wells
In total, Venezuela’s exports reached 1,093,667 BPD, even more than in May, when it achieved 1.06 million. The amount sold this September is 13% more than in August and 39% more if compared to September 2024, demonstrating that the sanctions have not made a dent in the PDVSA situation.
The main buyer, once again, has been China, which took 84% of the exports of the Venezuelan oil company, either directly or indirectly, since, Reuters remembers, these exchanges are made through “little known intermediaries” that sell the crude to avoid sanctions.
During that second quarter, PDVSA accumulated a good amount – not known – of crude oil in the Orinoco belt, the main producing region of the country, which is now exporting, says the British agency Reuters. Meanwhile, it was importing from Russia and China gasoline and light raw, which are essential to dilute the extra heavy oil produced by Venezuela. The latter is reflected in total diluent imports that went from 99,000 BPD in August to 41,000 BPD in September.
