Oil-rich Venezuela became net gasoline importer in 2012 [View all]

[joshcryer]

Oil-rich Venezuela became net gasoline importer in 2012
Venezuela in 2012 became a net importer of gasoline as a result of escalating problems at its refineries and increasing demand for fuel in its internal market, joining a growing list of countries that struggle with fuel supplies despite ample oil reserves.

The OPEC nation exported 30,000 barrels per day (bpd) of gasoline and naphtha last year, according to state oil company PDVSA's annual report. But it imported an average of 66,300 bpd of the same fuels from the United States alone, according to U.S. Energy Department data.

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Losses at PDVSA's domestic refining and sales division more than tripled to $8.4 billion in 2012 from $2.3 billion the previous year as a result of these factors.

Between September and January, PDVSA imported an average of 148,000 bpd, most of which was gasoline, according to the EIA.

But the US is the enemy! More like biggest business partner of the boligarchs.