Venezuela’s Refinery Crisis Is Far From Over

Venezuela used to be one of the top refining hubs not only in the Americas but probably in the world, with the Complejo Refinador Paraguana (Refining Complex of Paraguana) located in the western part of the country, being the single largest refining center of the region with a processing capacity of close to 2MMBD. The domestic refining industry kept Venezuela’s gas stations well supplied, but this is by no means the case anymore in 2022.Ever since the start of the Bolivarian revolution, Venezuela’s oil and gas industry has been struggling,…