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Exclusive: Venezuela's PDVSA steps up fuel shipments to Cuba as shortages bite

DATE POSTED:February 14, 2020

 Venezuela's PDVSA steps up fuel shipments to Cuba as shortages biteMEXICO CITY/HAVANA (Reuters) - Venezuela's state energy firm PDVSA has been shipping more oil this month to close ally Cuba, as tighter U.S. sanctions have worsened fuel shortages on the Caribbean island, according to sources and internal company documents seen by Reuters. Six vessels, most of them owned by PDVSA's maritime arm, have exported an average of 173,000 barrels per day (bpd) of Venezuelan crude and fuel to Cuba so far this month, according to Refinitiv Eikon data and PDVSA's documents. In January, PDVSA's exports to Cuba dipped to their lowest since mid-2019, at just 56,600 bpd.