{"id":2866191,"version":0,"headline":"Venezuela's refineries run at 350,000 b/d: PdV","dateModified":"2026-08-17T22:21:35Z","datePublished":"2026-08-17T17:16:12Z","articleBody":"

Venezuela's refineries are processing about 350,000 b/d of crude and producing enough gasoline to meet domestic demand, PdV president Hector Obregon said, an improvement from late 2025.

Investments in Venezuela's refineries are helping PdV avoid gasoline imports, Obregon told state-controlled VTV television on 14 August.

This represents a supply increase from late 2025 when PdV executive vice president Jovanny Martinez said that Venezuela was producing 108,000 b/d of gasoline and 53,700 b/d of diesel.

Venezuela had 1.3mn b/d of nameplate refining capacity when late former president Hugo Chavez took office in 1999. But industry source have estimated that only about 500,000 b/d is usable.

PdV is investing more in its refining system, Obregon said. It also continues to offer a 97-octane gasoline rolled out in February at more retail stations, he said.

The 350,000 b/d processing rate is a realistic if approximate figure, one source in PdV's refining sector who asked not to be named said.

Venezuela's domestic gasoline demand is roughly 200,000-300,000 b/d, and shortages and long lines at retail fuel stations have eased although structural problems remain, the source said.

PdV previously had 1.2mn b/d of capacity in its Amuay refining complex alone before a massive explosion in 2012 from which it has never recovered, the source noted. Power outages and problems at the El Palito refinery that is crucial for supplying gasoline to central coastal Venezuela also limit output, the source said. US sanctions that have mostly been lifted after a US incursion on 3 January caused delays in maintenance as well.

In addition to Amuay and El Palito, Venezuela's other main refining complexes are Bajo Grande and Puerto La Cruz.

Venezuela continues to import naphtha, which it typically uses as a diluent for its extra-heavy crude production but the product can also be used as a gasoline blending component. Venezuela imported about 100,000 b/d of naphtha in July and is on track to import slightly more in August, about 125,000 b/d, with most of that coming from the US, according to Vortexa ship tracking.

By Jose Chalhoub

","dateline":"Caracas, 17 August (Argus)","license":"","copyrightHolder":"Argus Media group","copyrightYear":2026,"taxonomy":{"contexts":[{"name":"Fundamentals","children":[{"name":"Refining","children":[]}]}],"regions":[{"name":"Latin America and Caribbean","children":[{"name":"Venezuela","children":[]}]}],"sectors":[{"name":"Crude oil","children":[]},{"name":"Oil products","children":[{"name":"Diesel-heating oil-gasoil","children":[{"name":"Diesel","children":[]}]},{"name":"Gasoline","children":[]}]}]},"pullQuote":null,"newsType":"Daily news","language":"en-GB","keywords":null,"isFree":true,"isFeatured":false,"body":"

Venezuela's refineries are processing about 350,000 b/d of crude and producing enough gasoline to meet domestic demand, PdV president Hector Obregon said, an improvement from late 2025.

Investments in Venezuela's refineries are helping PdV avoid gasoline imports, Obregon told state-controlled VTV television on 14 August.

This represents a supply increase from late 2025 when PdV executive vice president Jovanny Martinez said that Venezuela was producing 108,000 b/d of gasoline and 53,700 b/d of diesel.

Venezuela had 1.3mn b/d of nameplate refining capacity when late former president Hugo Chavez took office in 1999. But industry source have estimated that only about 500,000 b/d is usable.

PdV is investing more in its refining system, Obregon said. It also continues to offer a 97-octane gasoline rolled out in February at more retail stations, he said.

The 350,000 b/d processing rate is a realistic if approximate figure, one source in PdV's refining sector who asked not to be named said.

Venezuela's domestic gasoline demand is roughly 200,000-300,000 b/d, and shortages and long lines at retail fuel stations have eased although structural problems remain, the source said.

PdV previously had 1.2mn b/d of capacity in its Amuay refining complex alone before a massive explosion in 2012 from which it has never recovered, the source noted. Power outages and problems at the El Palito refinery that is crucial for supplying gasoline to central coastal Venezuela also limit output, the source said. US sanctions that have mostly been lifted after a US incursion on 3 January caused delays in maintenance as well.

In addition to Amuay and El Palito, Venezuela's other main refining complexes are Bajo Grande and Puerto La Cruz.

Venezuela continues to import naphtha, which it typically uses as a diluent for its extra-heavy crude production but the product can also be used as a gasoline blending component. Venezuela imported about 100,000 b/d of naphtha in July and is on track to import slightly more in August, about 125,000 b/d, with most of that coming from the US, according to Vortexa ship tracking.

By Jose Chalhoub

","lead":"Venezuela's refineries are processing about 350,000 b/d of crude and producing enough gasoline to meet domestic demand, PdV president Hector Obregon said, an improvement from late 2025.","cmsId":"25069192","source":"Censhare"}