Report: PDVSA can’t meet oil supply commitments to Lukoil in Jun

MEXICO, Jun 5 (PRIME) -- Venezuelan oil company PDVSA has notified eight international customers, including Russian oil major Lukoil, that it will not be able to fulfill obligations on oil supplies in June, El Nacional reported on Tuesday citing a source in the company.

PDVSA is contractually obligated to supply 1.495 million barrels of oil to its clients in June, but can export only 649,000 barrels, the source said.

Besides Lukoil, the affected clients include Nynas, Tipco, Chevron, CNPC, Reliance, Conoco, and Valero.

Oil production in Venezuela fell to its lowest on the back of an economic and political crisis. According to OPEC, the country produced 1.49 million barrels of oil per day in April.

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