IBOV 185,147.15 ▼ 0.02% IPSA 11,315.26 ▼ 1.14% IPC MEX 64,866.61 ▼ 0.87% MERVAL 3,041,993 ▼ 0.23% COLCAP 2,556.17 ▲ 0.46% BVL PERÚ 59,789.81 ▼ 0.24% USD/BRL5.13▼ 0.01% USD/MXN16.92▲ 0.27% USD/CLP933.68▼ 0.10% USD/COP3,117▼ 0.40% USD/PEN3.36▲ 0.10% USD/ARS1,510▲ 0.08% USD/UYU40.24— 0.00% USD/PYG5,947— 0.00% USD/BOB12.40— 0.00% USD/DOP59.00— 0.00% USD/CRC448.67— 0.00% USD/GTQ7.63— 0.00% USD/HNL26.84— 0.00% USD/NIO36.62— 0.00% USD/VES811.71▲ 0.66% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71— 0.00% EUR/BRL5.96▲ 0.24% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 185,147.15 ▼ 0.02% IPSA 11,315.26 ▼ 1.14% IPC MEX 64,866.61 ▼ 0.87% MERVAL 3,041,993 ▼ 0.23% COLCAP 2,556.17 ▲ 0.46% BVL PERÚ 59,789.81 ▼ 0.24% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Venezuela Faces Fuel Crisis as Gas Production Plummets

By · November 26, 2024 · 2 min read

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Venezuela grapples with a severe fuel shortage following a devastating explosion at a key gas facility. The incident has crippled the nation’s propane production, threatening the daily lives of millions.

The Muscar gas complex in Monagas state suffered a catastrophic blast on November 11. This facility once supplied nearly half the country with cooking gas. In the aftermath, propane output has plunged by a staggering 97%.

Experts estimate repairs could take up to four months. This prolonged downtime poses a significant threat to Venezuela’s energy security. Most citizens rely on propane for cooking and other household needs.

Vice President Delcy Rodríguez blamed the incident on extremists. She claimed they targeted “the heart of the country’s natural gas system.” Authorities have detained at least 11 individuals. Rodríguez labeled it a plot to undermine Venezuela‘s economy.

However, insiders paint a different picture. Sources familiar with repair efforts at Petróleos de Venezuela SA (PDVSA) facilities tell a different story. They attribute the fire to years of underinvestment and poor maintenance.

Venezuela Faces Fuel Crisis as Gas Production Plummets
Venezuela Faces Fuel Crisis as Gas Production Plummets.
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The explosion damaged critical infrastructure. It burned a key collector and caused secondary damage to chemical tanks, controllers, and other systems. These sources requested anonymity due to the sensitive nature of the information.

Venezuela’s Oil and Gas Crisis

Venezuela’s oil production has hit its lowest point in 80 years. The country once pumped over 3 million barrels per day. Now, it struggles to maintain even a fraction of that output.

The blast will significantly impact the domestic cooking gas supply and other products. Francisco Monaldi, an energy policy expert, warns of widespread disruptions. These include interruptions to oil upgrading and refining operations.

Several states are taking preemptive measures. Táchira, Barinas, and Nueva Esparta are rationing supplies and restricting sales. They anticipate a prolonged propane shortage.

In addition, the gas shortage affects various industries. Iron, aluminum, and cement plants face operational challenges. Even the power grid feels the strain of this energy crisis.

A separate incident on November 10 compounds the problem. A fire at a petroleum coke plant in the Jose Petrochemical Complex hinders diesel production. This has led to long queues at gas stations in major cities.

Margarita Island residents face recurring blackouts lasting up to 20 hours. Two power plants on the island have run out of diesel and gas.

Before the November 11 explosion, Venezuela’s natural gas production totaled 3.7 million cubic feet per day. Post-accident, production fell by 47%. The government has not released official data on the country’s gas production and supply.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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