Second Algerian Crude Cargo Arrives in Venezuela

HOUSTON, Nov 18 (Reuters) – A tanker carrying Algerian light oil arrived at the Venezuelan port of Jose late on Monday and is waiting to unload up to 2 million barrels in PDVSA’s second crude purchase from state-run Sonatrach, according to Reuters vessel-tracking data.

Venezuela last month started importing crude for the first time in its history. It is using the oil to dilute its growing extra-heavy output as its own light and medium crude production declines and naphtha purchases are no longer affordable.

Tanker Boston, under a Liberian flag and operated by Dynacom Tankers Management Ltd, was loaded in early November at the Algerian port of Bejaia.

The first delivery of 2 million barrels of Algerian oil to Venezuela was at the end of October on tanker Carabobo. The cargo was partially unloaded at Jose terminal, and the rest of the crude was delivered to the Caribbean island of Saint Eustatius, where PDVSA rents storage and blending facilities.

State-run PDVSA last week said it would mix the Algerian Saharan Blend crude purchase with Orinoco extra heavy crude for export later as Mesa 30 medium crude.

First sales of this new blend have not been reported yet. (Reporting by Marianna Parraga; Editing by Anna Driver and Lisa Von Ahn)

© 2014 Thomson Reuters. All rights reserved.

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