Venezuela increases oil exports to Spain at the highest level in 20 years

Published at: 15/01/2025 12:14 PM

The state company Petrleos de Venezuela SA (PDVSA) increased crude oil shipments to Spain by approximately 120%, to reach the highest level in the last two decades.

The Corporation for Strategic Reserves of Petroleum Products (CORES) explained that in 2024, data were collected that show this increase compared to the previous year, positioning Venezuela as the eighth supplier of crude oil to Spain in the last 12 months.

According to CORES, PDVSA sent more than three million tons of crude oil to Spain's Repsol, which are processed through the ports of Bilbao, Cartagena and Tarragona.

Since April 2024, PDVSA and Repsol expanded their strategic alliance with the signing of an agreement for the exploration of oil fields, where the Venezuelan company has 60% and the Spanish company 40%.

Mazo News Team