Venezuela's largest oil refinery yet to regain full capacity
Venezuela's largest oil refinery Amuay has yet to recover full capacity following an explosion two years ago which damaged the facility and killed at least 47 people.
In a release marking the August 26, 2012 disaster, state oil firm PDVSA revealed Amuay is currently processing 448,000b/d, or approximately 69% of its 645,000b/d nominal capacity.
Although officials originally attributed the explosion to a gas leak, PDVSA's latest release blamed the incident on politically motivated sabotage.
Amuay is part of the Paraguaná refinery complex, which is currently operating at 702,000b/d, PDVSA said.
The second anniversary of the Amuay disaster follows PDVSA's announced interest in selling off US refinery and transportation unit Citgo.
Earlier this month PDVSA president and Venezuela's oil minister Rafael Ramírez said the state firm would accept no less than US$10bn for Citgo, which has three refineries, stakes in six pipelines and 48 storage facilities.
Citgo sale proceeds may be better spent improving Venezuela's domestic refinery capacity, Institute of the Americas energy policy analyst Alexis Arthur told BNamericas recently.
BNamericas will host its second LatAm Oil & Gas Summit in Houston, Texas, on September 10-11. Click here to download the agenda.
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