Luis Augusto Pacheco, from the Center for Energy Studies of the Baker Institute from Rice University, who has worked in the Venezuelan oil industry as a director of PDVSA, gave an approximation. at Noon Newsof what the approach of United States to Venezuelafrom the oil perspective.
Also read: US bans import of oil, natural gas and coal from Russia
In front of the meetings he has had United States with VenezuelaPacheco assured that the scheme of this visit is still tangled, since not all the information exists: “assuming what the headlines say, that United States went to seek oil in Venezuela to replace Russian oil, Venezuela produces today between 600 and 700 thousand barrels, which is a fifth of what it once produced, sometimes it’s 400 mil, it depends a lot on the lack of energy, criminal actions or lack of technique,” he explained.
Also read: Russia studies halting gas supplies to Europe
The director stated that part of the oil produced in Venezuela is refined for the domestic market and ensured that Venezuela cannot supply what you need United States.
“On Venezuela most of the crude is produced by companies with foreign participation. Less every day, but one of them is an American company that has been for many years, since the sanctions began, trying to get special licenses so they can produce more oil, which they can do technically, “he said.
He explained that the reason for this is that the American company has a debt with PDVSA of billions of dollars, which has not been able to be paid.
“Today Venezuela exports around 400,000 barrels to Asia and since the Russians are not going to be able to place their crude on the market, they are selling to Asia, basically to China”counted.
This means that, Russia is now a competitor with Venezuela in Asia regarding oil:Venezuela is going to get into trouble to be able to place what little it has on the market, but it could, if there are the political conditions to send those crudes, which today are produced from the Asia to United States. To do this, legal and economic guarantees and investments are needed, which, in my opinion, are not sustainable, not even in the medium term,” he stated.
Pacheco concluded by assuring that it is a hypothesis that Venezuela can replace Russia in the oil market, however this does not mean that United States and Venezuela are not willing to reach an agreement, which he reiterated “would be very difficult”.
