November 26, 2020

San Antonio’s NuStar reportedly stops Venezuela’s oil company from using Caribbean terminal

Pin It

By Rye Druzin From My

NuStar Energy, which operates storage terminals like this one in , is stopping ’s state-owned oil company from using its terminals, according to a Reuters report.

Missed payments are forcing San Antonio-based NuStar Energy to stop Venezuela’s state-run oil company PDVSA from using its Statia oil terminal, according to a Reuters report.

On Friday Reuters reported that NuStar was stopping PDVSA from using its 14.4 million barrel storage terminal on the Caribbean island of St. Eustatius because PDVSA owes the San Antonio company more than $26 million in charges.

The recent action by NuStar came after an oil trader, Trafigura, was attempting to retrieve the PDVSA crude oil after buying it at auction.

NuStar, which manages pipelines and storage terminals throughout the world, said it could not comment on the operations of its customers.

The charges are nearly a years worth oil storage fees, according to Reuters, which had said in June that PDVSA was paying approximately $2.3 million a month to lease 5 million barrels of crude storage at the St. Eustatius facility.

NuStar’s action comes months after Reuters reported PDVSA expanded its storage at the St. Eustatius terminal after it terminated its contract with Houston-based Buckeye Partners in June. The contract termination came after payment disputes between PDVSA and Buckeye.

IMAGE: Bob Owen /San Antonio Express-News

For more on this story go to; http://www.mysanantonio.com/business/eagle-ford-energy/article/San-Antonio-s-NuStar-reportedly-stops-12299291.php

 

Print Friendly, PDF & Email
About ieyenews

Speak Your Mind

*