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Monday, February 9, 2015
PDVSA, Venezuela’s state-run oil company,halted its purchases of Algerian light crude to blend with its extra-heavy oil because of technical problems and disagreements with the seller. With the halt Venezuela ends its cost-saving measures launched in Q4 2014 to use Algerian Saharan Blend instead of naphtha to dilute its heavy Orinoco Belt crude.
The company resumed international tenders to buy heavy naphtha to dilute its crude in January.
“PDVSA is informing partners and traders that it will not buy any more Saharan Blend after logistical problems,” said a trader who deals with PDVSA according to a Reuters report. “Naphtha purchases, instead, can be unloaded and transported to mix with Orinoco belt’s extra heavy oil,” he said.
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