OREANDA-NEWS. US imports of residual fuel oil from Venezuela jumped to 5.31mn bl from January to November 2016, compared with 131,000 bl during the same period in 2015 and no imports in 2014, according to data from the US Energy Information Administration. The bulk of the imports, 4.78mn bl, moved to Houston, Texas and were likely blended for bunkering.

Astra Oil imported 2.94mn bl and Vitol 1.25mn bl of Venezuelan resid into Houston. Most of the remaining Venezuelan imports found home in Port Canaveral, Florida and in New Orleans, Louisiana. Some Venezuelan fuel oil cargoes were also rumored delivering to the US east coast this year.

Total US residual fuel oil imports rose to 80.40mn bl in the first eleven months of 2016, up by 9pc compared with the same period in 2015. In addition to Venezuelan imports, the uptick was driven by Russian fuel oil imported by BP into Bellingham, Washington. The resid was likely straight-run fuel oil for processing at BP's 222,700 b/d Cherry Point refinery. BP imported 7.02mn bl from January to November 2016 to Bellingham, compared with 733,000bl from January to November 2015.