Low Venezuelan Throughput Threatens PetroCaribe
In the wake of a series of severe refinery disruptions, ESAI Energy has revised down its expectations for Venezuelan throughput for the middle part of 2016. Those revisions, from already low utilization rates have led our expectations for balances in the country and the wider Caribbean Basin to deteriorate further relative to 2015. They may also signal a significant unwinding of the PetroCaribe program.