soybean oil refining system in venezuela

                                               
                                               
                                               
                                               
                                               
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  • Is Venezuela's crude oil production on a downtrend?
  • Venezuelan crude oil production has been on a downtrend for years. This is true across all crude grades, but from a composition standpoint, the heavies and extra heavies now make up over 71% of total Venezuelan crudes compared to sub 60% in 2013. In other words, the type of barrel produced is heavier than in the past.
  • Which refiners rely on Venezuela?
  • Other refiners such as Chalmette, Saint Charles, and Texas City are highly dependent on Venezuela for more than 60% of their total imports. The average crude quality imported by the refiners running Venezuelan crudes involves a 21.8 degree API and 2.7% sulphur spec crude. Replacing such barrels will be a tall task.
  • How will sanctions affect Venezuelan refinery production?
  • As such, Venezuelan refinery activity is operating at abysmal utilizations with volumes last year averaging some 640 kb/d, which compares to 1.1 mb/d back in 2016 and total nameplate capacity of 1.3 mb/d. Energy sector sanctions will likely accelerate what has been a years long slide in Venezuelan production.
  • What is a soybean processing facility?
  • A soybean processing facility, in which refined oil, soy protein concentrate and soy protein isolate are produced, generates residues that if undergo additional industrial operations may result in new products with commercial value.
  • Do Venezuelan refiners still take barrels?
  • Simply put, not only are there fewer counterparties taking Venezuelan barrels, but the refiners that continue to take barrels are typically buying at a smaller clip. The Venezuelans own CITGO Refining, which operates the Lake Charles and Corpus Christi refiners in the US Gulf and the Lemont refinery in the Midwest.
  • How did the Hydrocarbons Law affect Venezuela?
  • In 1943, the government passed the Hydrocarbons Law, which required oil companies to turn over 50 percent of their profits to the Venezuelan state. During this period, Venezuela was the world¡¯s third largest oil producer, trailing only the Soviet Union and the United States.