According to Reuters, Venezuela’s refineries have almost halted operations because of underinvestment while U.S. sanctions meant to force the ruling Socialist Party from power have severely restricted fuel imports.
Specifically, three tankers that departed Iran in August are sailing to Venezuela, but will take a long route around the horn of Africa, where it is easier to keep satellite tracking systems off to avoid U.S. authorities.
In the meantime, fuel lines are snarling for blocks and drivers are waiting hours or even days in Venezuela, while many leave empty-handed because gasoline runs out before they can fill up.
It is noted that Venezuela needs 50,000 to 70,000 barrels per day (bpd) of gasoline during coronavirus lockdown.
Concerning Africa, the three tankers carrying around 820,000 barrels turned their transponders off before setting sail and have not passed the Suez Canal.