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EXCLUSIVE: PDVSA leaves Bahamas oil terminal, expands in St Eustatius -sources

Reuters  |  HOUSTON 

By Marianna ParragaHOUSTON (Reuters) - Venezuelan state-run oil company PDVSA is moving millions of barrels of oil from a Bahamas storage facility after terminating a contract with the owner, U.S. Buckeye Partners LP, according to internal data and sources close to the decision.Buckeye and PDVSA had tried to resolve payment delays and other frequent problems that stalled some shipments, the sources said. But PDVSA decided to shift its oil to the Statia terminal, operated by U.S. NuStar Energy LP, in the neighboring island of St. Eustatius.The termination is another sign of how PDVSA's ...

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First Published: Tue, June 13 2017. 22:15 IST