30 Jul 2024 | 18:21 UTC

Venezuela faces fuel shortages as protests build after contested election

Highlights

PDVSA suspends work at administrative offices

Oil field, refining operations continue as normal

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Gasoline shortages are beginning to be felt in Caracas and major Venezuelan cities affected by protests following the disputed July 28 presidential election, according to sources.

In Caracas, some gas stations no longer had fuel to sell July 30. Those that still have inventory in tanks had lines of drivers waiting to fill up.

"The supply by tankers from distribution centers to service stations has been affected by the protests," said an official for state-run PDVSA who spoke on condition of anonymity. "For safety, the supply in some areas has been temporarily suspended until there is normality."

Some service stations that dispense gasoline at subsidized prices remained open but only for "authorized people," one of the workers told S&P Global Commodity Insights.

Gasoline supply to the local market is approximately 90,000 b/d, according to unofficial data.

Oil field and refinery operations have not been affected by the election or protests. However, PDVSA suspended work at its administrative offices throughout the country from July 27 to August 1, according to internal memos.

"We remain on standby, it is early too draw conclusions," a representative of an international oil company said on condition of anonymity.

Vladimir Padrino, Venezuela's defense minister, on July 30 endorsed the proclamation of Nicolas Maduro as president-elect for a third term. The opposition does not accept the results released by the National Electoral Council.

Protests against Maduro's proclamation began in Caracas in the early hours of July 29 and have spread throughout the country.

During the protests, 48 military and police officers have been injured, and a National Guard sergeant died from a firearm in the state of Aragua, the defense minister said in a statement broadcast July 30 by the official Venezolana de Television channel.

Six people have died and 132 were wounded during the protests as of July 29, according to nongovernmental organization Foro Penal.

Some countries and international organizations are calling for a transparent vote count to clear up any doubts about who won the presidential election.


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