Oil-rich Venezuela became net gasoline importer in 2012

[joshcryer]

Oil-rich Venezuela became net gasoline importer in 2012
Venezuela in 2012 became a net importer of gasoline as a result of escalating problems at its refineries and increasing demand for fuel in its internal market, joining a growing list of countries that struggle with fuel supplies despite ample oil reserves.

The OPEC nation exported 30,000 barrels per day (bpd) of gasoline and naphtha last year, according to state oil company PDVSA's annual report. But it imported an average of 66,300 bpd of the same fuels from the United States alone, according to U.S. Energy Department data.

...

Losses at PDVSA's domestic refining and sales division more than tripled to $8.4 billion in 2012 from $2.3 billion the previous year as a result of these factors.

Between September and January, PDVSA imported an average of 148,000 bpd, most of which was gasoline, according to the EIA.

But the US is the enemy! More like biggest business partner of the boligarchs.

[Warren Stupidity]

1. Interesting edit.

Fuel imports jumped following an August explosion and fire at the country's largest refinery, Amuay, that killed more than 40 people and caused extensive damage to its storage facilities.

"Between the days of the incident and the resumption of operations, PDVSA imported blending components worth a total of $1.572 billion," the company said in its financial results.

The refinery blew up.

[joshcryer]

2. Sure.

Point is that their infrastructure is collapsing and the US is their biggest partner. I would've happily quoted the Amuay bit but there's a 4 paragraph limit and we all know about Amuay, what we don't know is the cost of it and other infrastructure problems, which appears to be almost $10 billion.