PDVSA Continues to Demonstrate Deterioration on all Fronts

By 22nd May 2017 Industry News No Comments

By Pietro Donatello Pitts (@PietroDPitts), Special to Energy Analytics Institute (EAI)

In recent weeks PDVSA has reported at least three accidents: Petrotrin oil spill in Sucre state and incidents at its Cardon and Curaçao refineries. The writing on the wall continues to point to a cash-strapped state oil company with an inability to make investments, retain top talent, organically grow oil production, and let alone take on the leadership role in Venezuela’s upstream, downstream, or midstream sectors.

Recent events at PDVSA’s Cardon and Curaçao refineries demonstrate conditions at the company’s refineries continue to deteriorate as I would expect due to a lack of investments, upgrades and maintenance and as chronicled in an earlier article I wrote titled “Mange Infested Dog Roams Grounds of PDVSA’s Paraguana Refining Complex” http://bit.ly/2q9yySx