Energy
Exports of hydrocarbons from Venezuela to the United States recorded a significant drop in April. According to the statistics provided by the Energy Information Administration (EIA), shipments tumbled to 891,000 bpd, its lowest value in 18 years.

The numbers show that Venezuela exported to the United States 891,000 bpd of crude oil and byproducts versus 1,106,000 bpd in March, a drop of 19.43 percent in April, compared with the prior month.

However, a historical comparison found that shipments plummeted to their lowest ebb since 1991, when 845,000 bpd was traded. Except for the oil strike in 2003, such small amount had not been ever recorded.

In view of this outcome, Venezuela became the fourth supplier of hydrocarbons to the US market, behind Canada (2.3 million bpd), Mexico (1.3 million bpd) and Saudi Arabia (slightly over 1 million bpd).

Last March, Venezuela was the third oil supplier to the United States, behind Canada and Mexico, but it was overtaken by Saudi Arabia and Nigeria.

Beginning this current year, the Executive Office attributed shrinking exports to the enforcement of a cut agreed by the Organization of Petroleum Exporting Countries (OPEC). As a result, exports went down to 1.3 million and 1.1 million bpd, at least until the first quarter.

A breakdown of the exports of byproducts, i.e.: reformulated and standard gasoline, fuel oil, asphalt or lube oils, among others, showed a 64.10-percent fall compared with March. In April, 88,000 bpd were exported versus 156,000 the prior month.

According to EIA, the oil barrels arriving in US ports include some 4.8 million provided by OPEC member states and 7.2 million from non-OPEC member states.

The smaller shipment of Venezuelan oil products to that market means fewer revenues in the face of oil prices averaging USD 46.49.

According to analysts, the exports to the United States for that month mirror the output level in Venezuela. Secondary sources put drilling at 2.1-2.5 million bpd, in addition to around 500,000 bpd for domestic consumption, for a total of 2.6-3 million bpd.
dbuitrago@eluniversal.com

Translated by Conchita Delgado

Deisy Buitrago
EL UNIVERSAL