The outage occurs while Venezuela's crude exports have hit a seven year peak of about 1.2 million bpd since January, driven by demand from US Gulf Coast refineries. Because the US controls much of the oil sale proceeds, domestic plants like the 955,000 bpd Paraguaná complex are left short of feedstock and spare parts. Analysts indicate that workers have resorted to stripping idle units for components as the state oil company, PDVSA, struggles to maintain basic industrial infrastructure.
Tuesday, October 20, 2026
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Venezuela's 310,000 bpd Cardon Refinery Shuts at 7 Year Export High
Commodities14 days ago
The collapse of the nation's refining capacity has reached a critical point as a recent explosion at its second-largest site exposed the fragility of a system facing a $20 billion restoration deficit. A rupture in a natural gas pipeline at the Cardon refinery in Falcon state triggered explosions and a blaze on Tuesday, forcing the facility to suspend all operations, including its boilers. Personnel were evacuated and the fire was extinguished within an hour with no injuries reported, but the plant remains offline.
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