HOUSTON Aug 25 China Oil Corp, a unit of
state-run CNPC, in July received two 240,000-barrel cargoes of
jet fuel from Petroleos de Venezuela, and the shipments were
sent to the United States, according to an internal PDVSA
document seen by Reuters on Monday.
China National Petroleum Corporation (CNPC) and its trading
arm Petrochina normally take cargoes of Venezuelan fuels such as
diesel, fuel oil and jet fuel. It either uses those cargoes for
its own needs or resells them directly to refining companies.
China receives the Venezuelan oil as payment for loans made
to Venezuela's government that date back to 2007.
China Oil received the first jet fuel cargo on July 4 on the
tanker Pretty Scene with the island of Puerto Rico as its
destination. The second one was loaded on July 29 on the tanker
Walnut Express with Florida as its destination.
PDVSA normally offers four to six cargoes of jet fuel and
ultra low-sulfur diesel (ULSD) each month on the open market.
But recently its exports of fuels have declined as it works to
meet growing domestic demand for diesel and fulfill delivery
quotas to China.
The document also shows that PDVSA did not directly sell any
ULSD cargo to the international market in July, as happened in
June. But it sent two cargoes from its eastern terminals to its
645,000-barrel-per-day Amuay refinery on Venezuela's western
Domestic demand for diesel in Venezuela has been growing in
recent months while the government increases thermoelectrical
generation, instead of hydroelectrical.
PDVSA also sent from its eastern terminals in July seven
cargoes of heavy Merey crude to Phillips 66's terminal
in Freeport, five crude cargoes to Cuba, three light virgin
naphtha cargoes to Brazil, one crude cargo to Jamaica's
Petrojam, another to Dominican Republic's Refidomsa and one
crude cargo to Nicaragua.
(Reporting by Marianna Parraga; Editing by Terry Wade and