Reuters reveals that Caracas sent only 8,000 barrels of crude oil per day in June, instead of 55,000
14ymedio, Madrid, 2 July 2025 — Havana, which has historically benefited from fewer scheduled power cuts, has already had its dose of blackouts for a few days. According to the authorities, the change “is due to the situation of extreme contingency of the electroenergetic system in the country, caused by the lack of fuel.” In recent days, the Electric Union (UNE) has placed at almost 900 megawatts the deficit of generating plants that depend on imported oil, and the population can’t take it anymore. The explanation is in the surprising data that Venezuela sent only 8,000 barrels of crude oil per day (bpd) in June, a historic low.
The figure is far from the average of 55,000 bpd committed in 2000 in the agreements signed by Hugo Chávez and Fidel Castro, and it is also worse than the previous low record, which was 10,000 bpd last January. According to the statistics, the average received by Cuba from Venezuela in the five months for which there are data -in May the amount was not known- is 32,000 bpd, a figure exactly the same as the average in 2024, which was already 42% lower than that for the same period in 2023.
In June, Venezuelan oil had the worst deficit data in the recent history of Cuba, reaching 1,936 MW on Saturday the 28th
In June, Venezuelan oil had the worst deficit data in the recent history of Cuba, reaching 1,936 MW on Saturday 28. The Cuban government, which handles its crude oil imports as a state secret, has not published any data and has not given an explanation about the dramatic reduction in deliveries.
There is no apparent reason why Venezuela has delivered such a derisory amount of oil to Cuba in the midst of the alarming situation that its partner — and brother, as described by Maduro and Díaz-Canel — is experiencing. According to Reuters data, the Venezuelan state-owned Pdvsa exported 8% more than last month, a total of 844,000 bpd, and it went mainly to China, to compensate for the loss of US and European markets affected by Washington’s decision to suspend the license to Chevron and other partners authorized to market Venezuelan crude.
The Venezuelan oil company exported that amount, in addition to 233,000 metric tons of by-products and petrochemicals, with 27 tankers leaving the country in June. For China, the fuel is sold to “little known intermediaries that make deals with independent refineries in China,” according to Reuters. In total, Beijing received 90% of Venezuelan oil exports, compared to 75% the previous month, which indicates that the bet on the Asian market is clear.
In total, Beijing received 90% of Venezuelan oil exports, compared to 75% the previous month, which indicates that the bet on the Asian market is clear
Other products exported by Venezuela, in this case to Europe and India, were methanol and petroleum coke, a solid byproduct. The British agency also highlights the boost in sales of Boscán crude oil, with three shipments to Asia. The ultra-heavy product is used for asphalt processing and has proved to be key, according to Reuters, in preventing Pdvsa from cutting its production in this oil field, which is one of the country’s largest, with reserves estimated at 25 billion barrels, previously acquired by Chevron.
According to Reuters, Pdvsa did not import diluents this June, but it took the prevention of filling its refinery tanks before the licenses were canceled.
While Venezuela exploits its products in Asia, the island lives on the edge. The Cuban flag tanker Sandino, which according to the Mexican press will carry 296,000 barrels of crude oil to the Cienfuegos refinery, is still docked in the port of Coatzacoalcos (Mexico) this Wednesday, and the blackouts do not cease.
Translated by Regina Anavy
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