- PDVSA has negotiated the sale of 6.8 million barrels of 3% sulfur fuel oil in January, offering large price discounts.
- Inventories of 3% sulfur fuel oil in the Amuay refinery are at 9.8 million barrels that is very close to its maximum capacity.
- PDVSA blames IMO 2020 resolution coming into force for fuel oil sales getting affected.
- Struggle in finding customers for petroleum because of US sanctions.
- Amuay refinery is operating at just 8.5% of capacity and has not run at maximum capacity since...
http://mfame.guru/why-pdvsa-sells-fuel-oil-at-large-discounts/