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Tuesday, December 1, 2009

Venezuelan Oil Upgrader Out Of Service Amid Boiler Problems

CARACAS (Dow Jones)--Venezuela's state oil company Petroleos de Venezuela said Monday its Petroanzoategui upgrader is temporarily out of service because of more problems with boilers.

"A paralyzation has occurred with the boiler "06F201B," which has been sustaining the operations of the upgrader," PdVSA said in a statement. "As a result of this problem, the supply of vapors from the upgrader...has been interrupted."

The 130,000 barrel-a-day Petroanzoategui upgrader, located in the Orinco region, also had issues with a boiler last week. PdVSA reported output had been cut by 15,000 barrels a day due to a leak in one of the boilers.

It wasn't clear if the problems from last week and the ones from Monday were related.

ConocoPhillips (COP) previously had a 50.1% stake in the upgrader, formerly called Petrozuata, until it was nationalized in 2007.

-By Dan Molinski, Dow Jones Newswires; 58-212-284-5651; dan.molinski@dowjones.com

Source: wsj.com/

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