{"id":63326,"date":"2022-08-19T04:48:09","date_gmt":"2022-08-19T09:48:09","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63326"},"modified":"2022-08-19T04:48:09","modified_gmt":"2022-08-19T09:48:09","slug":"venezuela-stops-oil-shipments-to-europe-as-alternatives-to-russian-energy-dry-up","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63326","title":{"rendered":"Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up"},"content":{"rendered":"
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Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up<\/a><\/h3>\n<\/header>\n
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The writing is on the wall for Europe in terms of this coming winter \u2013 It’s going to get ugly.\u00a0 With natural gas imports from Russia\u00a0cut by 80%<\/a>\u00a0through Nord Stream 1 along with the majority of oil shipments, the EU is going to be scrambling for whatever fuel sources they can find to supply electricity and heating through the coming winter.\u00a0 Two sources that were originally suggested as alternatives were Iran and Venezuela.<\/p>\n

Increased Iranian oil and gas exports to the west are highly dependent on the tentative nuclear deal, but as Goldman Sachs recently suggested, such a deal is unlikely anytime soon as deadlines on proposals have not been met and the Israeli government calls for\u00a0negotiators to ‘walk away.’<\/a><\/p>\n

Venezuela had restarted shipments to Europe after 2 years of US sanctions under a deal that allows them to trade oil for debt relief.\u00a0 However, the country’s government has now\u00a0suspended those shipments<\/a>, saying it is no longer interested in oil-for-debt deals and instead wants refined fuels from Italian and Spanish producers in exchange for crude.<\/p>\n

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This might seem like a backwards exchange but Venezuela’s own refineries are struggling to remain in operation because of lack of investment and lack of repairs.\u00a0 Refined fuels would help them to get back on their feet in terms of energy and industry.\u00a0 Some of Venezuela’s own heavy oil operations require imported diluents in order to continue.\u00a0 The EU says it currently has no plans to lift restrictions on the oil-for-debt arrangement, which means Europe has now lost yet another energy source.<\/p>\n

Sanctions on Venezuela along with declining investments have strangled their oil industry, with overall production\u00a0dropping by 38%<\/a> this July compared to a year ago…<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up The writing is on the wall for Europe in terms of this coming winter \u2013 It’s going to get ugly.\u00a0 With natural gas imports from Russia\u00a0cut by 80%\u00a0through Nord Stream 1 along with the majority of oil shipments, the EU is going […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,5],"tags":[281,554,851,4318],"class_list":["post-63326","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-geopolitics","tag-europe","tag-natural-gas","tag-venezuela","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63326"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63326\/revisions"}],"predecessor-version":[{"id":63327,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63326\/revisions\/63327"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}