Oil & Gas - Venezuela

PDVSA strengthens fleet with new oil tankers

PDVSA strengthens fleet with new oil tankers

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Venezuela's state oil company PDVSA is strengthening its fleet with four new tankers for hydrocarbons transport, the company said in a statement.

The Yare, Paramaconi, Terepaima and Tamanaco oil tankers have a capacity of 720,000b and join the existing 14 vessels of PDVSA's maritime shipping subsidiary PDV Marina.

The objective is to transport 40% of the company's production with its own fleet, said PDVSA president Rafael Ramírez.

Distribution routes to China, Japan and India become more viable with PDVSA's own fleet, Ramírez added.

PDV Marina is currently working on the construction of oil tankers in Argentina, Brazil, Iran and Portugal to gain experience in order to develop shipyards in Venezuela.