Oil companies, aid groups plan to press Biden to allow Venezuela fuel swaps

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Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps.

FILE PHOTO: Oil pumpjacks are seen in Lagunillas, Venezuela May 24, 2018. Picture taken May 24, 2018. REUTERS/Isaac Urrutia

A more acute scarcity of diesel would add to widespread gasoline shortages in Venezuela, as domestic refineries are working at a fraction of their installed capacity. Washington has not authorized PDVSA’s customers to supply the crisis-stricken OPEC nation with gasoline for over a year. A spokesperson for Biden, who takes office on Jan. 20, declined to comment. Biden has labeled Maduro a dictator, and advisers said he was likely to maintain some sanctions while seeking more consensus among U.S. allies about how to apply them.

“Our objective is, do it on Day 1,” said the person, who spoke on the condition of anonymity. The person added that the Trump administration in November turned down a request from the company to participate in a swap offered by PDVSA that would have let the firm import Venezuelan crude in exchange for diesel.A Repsol spokesman said the company “is in constant dialogue with the authorities in Venezuela and the U.S.

PDVSA’s diesel shipments to Cuba averaged around 4,000 bpd in the final three months of the year, a small fraction of the total 75,000 bpd it sent the island during that time period, internal PDVSA documents show.

 

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For the love of god don't, you're not helping us Venezuelans, you'll be helping the dictator stay in power.

Eh if it was just for diesel like how the deal was originally structured I am fine with that. As long as the government does not sell the fuel or store it in large quantities I do not see the harm.

Swap out Maduro first

I’m sure the money will go to help impoverished Venezuelans.

thank you very much for your work

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