The three tankers that started arriving last week carried some 820,000 barrels of fuel to the country of South America, where extreme gasoline shortages have led to waves of protests in recent weeks in the neglected interior.

The shortages come as the once-formidable 1.3 million bpdrefining network of the state oil company Petroleos de Venezuela has all but collapsed, although two refineries have generated about 50,000 bpd of gasoline over the past week.

Tomorrow, October 5, the plan to normalize and restart the gasoline distribution situation begins. We have in the last week managed to produce the gasoline and other products Venezuela needs, in addition to the good quantity of gasoline that has arrived from abroad," President Maduro stated.

The Faxon entered Venezuelan waters on Saturday and docked at the Guaraguao fuel port that is connected to the Puerto La Cruz refinery on Sunday afternoon. The other tankers are docked at refineries in Venezuela's west and central regions.

This year, Iran and Venezuela strengthened economic cooperation as the US ramped up sanctions on the oil industries of both countries.

Maritime Business World