Unlike five years ago, when an explosion
ripped through one of the world's largest refineries, Caracas has continued
exporting fuel to political allies and even raised the volume of shipments last
month despite warnings within the government-run company that doing so could
trigger a domestic supply crunch. Shipments from refineries to the domestic
market needed to be redirected to meet those export commitments, the internal
documents showed. "Should this additional volume ... be exported, it would
impact a cargo scheduled for the local market," read one email sent from
an official in the company's domestic marketing department to its international
trade unit. Venezuela last month exported 88,000 barrels per day (bpd) of fuels
- equivalent to a fifth of its domestic consumption - to Cuba, Nicaragua and
other countries, according to internal PDVSA documents seen by Reuters. More…
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