Latin America gets 36 percent of Venezuelan oil shipment

While Venezuelan exports of crude oil and byproducts to the United States showed a downward trend from 2002 to 2006, that is, from 1.24 million to 993,200 bpd, shipments to neighboring Latin American countries increased to 36.7 percent out of total exports last year.

Such exports averaged 832,400 bpd, a hike of 151,000 bpd over the total supply to Latin America in 2005.

These numbers came from the Annual Statistical Bulletin 2006, Organization of Petroleum Exporting Countries (OPEC). The bulletin is mainly based on the data provided by OPEC member nations.
Over the last 10 years, Latin America’s status as the second largest recipient of Venezuelan hydrocarbons has remained unchanged, but has gained strength in total exports, which grew by 112 percent, or 440,800 bpd in 2004-2006.

Other destinations, such as Europe, are having also a higher profile in the pie of Venezuelan oil exports. In 2002, 155,300 bpd of oil and byproducts were sent to that hemisphere. Last year, the amount averaged 257,700 bpd, a surge of almost 66 percent.

El Universal