Venezuela's Refining Network Boosts Capacity Amid Challenges

Venezuela's refining network is experiencing a notable increase in operational capacity, now functioning at approximately 35% of its 1.29 million barrels per day (bpd) potential. Workers from these facilities reported this uptick on Thursday, marking a considerable rise from last year's throughput of 20-25%.

The country's major refineries, including Amuay, Cardon, El Palito, and Puerto la Cruz, are under the operation of state-owned PDVSA. Together, these refineries are processing around 450,000 barrels per day of Venezuelan crude, according to sources familiar with the matter.

This modest yet significant improvement in refining capability highlights Venezuela's ongoing efforts to stabilize its energy sector amid persistent economic and political challenges.