PdVSA Checks One Problem Off The List, May Not Reverse U.S. Import Slump — Panjiva


PdVSA Checks One Problem Off The List, May Not Reverse U.S. Import Slump

Energy - Conventional 272 Energy - Crude Oil 194 Sanctions 74 U.S. 3297 Venezuela 52

ConocoPhillips won a $2 billion settlement from PdVSA to settle a 10 year old Venezuelan expropriation case, potentially increasing U.S. imports of oil from Venezuela via Caribbean ports. With declining production and the prospect of sanctions from the Trump administration that may be the least of PdVSA’s worries. U.S. seaborne imports of oil from Venezuela fell 28% in July on a year earlier after a 14% decline in 2Q, with Tesoro actually increasing its imports by 48% in 2Q. U.S. seaborne oil imports more broadly fell 1% in the three months to July 31 with imports from Europe and Iraq of...

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