Venezuela buying coke

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Venezuela buying coke

She is on the hunt for some crack or some bazuco , a type of smokable coca paste used by the poorest in the country. Due to spiralling poverty in Venezuela, those with addictions are struggling more than ever to come up with the money to buy drugs. But the bazuco dealers are different. They will take any payment. As well as bolivar notes, they also take food products in exchange for drugs, like corn flour or rice. It is bizarre that in a country next door to Colombia, the biggest cocaine producer in the world, most people in Venezuela struggle to afford even low grade cocaine products such as bazuco. One way drug users have found, amid the chaos of hyperinflation, to gather the money needed to keep the drug market afloat is at the huge, snaking queues of cars and trucks outside gas stations. Venezuela suffers, among many other things, from a severe shortage of fuel. Gas stations get fuel maybe once a week, making queues that can last days and can be several kilometers long. People fight for spots and have to sleep in their cars. But this situation has created a new way of scraping together cash for people in need of drugs. David is a year-old unemployed handy man. In Maracaibo, the market for heroin has almost completely collapsed due to the economic and migratory meltdown. We could only find one place selling it. Bazuco tends to disappear for a couple of days at a time when the price of the dollar goes down. Not everyone finds it hard to afford drugs. I spoke to one of several high-end dealers in the city who deliver to upper- and middle-class cocaine users and use the banking app Zelle. He does not have huge numbers of customers, but they spend enough to sustain a niche market. Yet there is one thing in common among five dealers I spoke to: No matter what they sell, none of them are doing better than five years ago. All of them miss their clients, many of whom, out of desperation, have migrated away from the crisis in this county to live abroad. They can even pinpoint where in the world their buyers have ended up, missing them as if they are family. The sheer size of Caracas and the professionalization of its drug market has made it more resilient than regional markets, said Antillano. The market is mainly reliant on weed sales, with cocaine uncommon and heroin even more so. In cities such as Merida in the Andes, or Cumana in the east, things are more like Maracaibo, according to local drug treatment agencies. Back in Maracaibo, Poly finished her Tuesday empty handed, and desperately called her boss to change the payment to cash, which she managed. So the next day we made the walk yet again. No one had any change. It happens with food. It happens with crack. But Poly was finally happy, taking some 24 hours and surely 10 kilometers of walking to score once. By Manisha Krishnan. By Nathaniel Janowitz. By Max Daly. Share: X Facebook Share Copied to clipboard. Videos by VICE. Read Next.

Venezuela’s Political Unrest Has Made Drug Trafficking, Money Laundering, and Other Crimes Easier

Venezuela buying coke

Venezuelan petroleum coke exports are on track to fall this month because of lower demand from key markets and slower loading compared with earlier this year. Venezuela loaded four ships at the Jose port from September, totalling 85,t, with another three ships totalling just under ,t currently under loading, according to preliminary data from global trade analytics platform Kpler. This suggests September's exports could be under ,t. In contrast, Venezuela loaded ,t over the first 24 days of August, with three vessels heading to China, one to India, and one to Brazil. The previous lowest monthly total in recent Kpler data was July with ,t. And import data from Venezuela's trading partners suggests the country shipped out much more in the beginning of this year, when the US applied a temporary waiver for its sanctions on Venezuela's oil sector, leading to a rush in trading. The US renewed sanctions against Venezuelan crude and oil products in April. Venezuelan exports surged during the sanctions waiver period, putting stress on the country's ageing infrastructure. And sellers have faced additional loading delays especially since civil unrest began following the country's 28 July elections, which president Nicolas Maduro claims he won — an assertion contested by the US and other countries. Maduro on 5 September appointed four new vice ministers in the oil ministry, including two to newly created offices, as well as new officials at state-owned PdV. The company, which handles Venezuela's petroleum coke, has been 'a little directionless' since the management shakeup, a market participant said. But lower demand is also a factor now, as renewed sanctions, a weak downstream market in China and minimal discounts to falling US Gulf coke prices weigh on interest. Over the last five months, including vessels currently loading, ,t has headed to India compared with ,t to China. This is a reversal from recent years, when China had been the largest destination. The drop was mainly because of the China's slowing economy and high port stockpiles, along with policy uncertainty surrounding higher-sulphur coke. But the US sanctions waiver in the beginning of the year drawing a more diverse set of buyers also helped to reduce China's share. China's Venezuelan coke imports in the first eight months of this year fell to ,t from 2. Indian customs data is only available through June, but the country reported ,t of Venezuelan coke in the first six months, more than double the ,t it received in the first half of last year. This does not include four vessels marked as currently on the way to China in Kpler data, carrying ,t. One Ultramax is also in transit to India with about 61,t and a Supramax is transporting 48,t to Turkey. Another Panamax cargo of 71,t is currently waiting off of India's Kandla port, after discharging from Jose in May. Indian demand is now weaker than it was earlier this year. Larger companies are unwilling to risk dealing with sanctioned coke, although Indian banks are willing to provide letters of credit for the origin. Buyers typically request larger discounts for yet-to-be-loaded 4. But the sharp drop in US coke prices have made these cargoes cheaper than most Venezuelan sellers are willing to accept. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one. Houston, 9 October Argus — The quality of some California-origin petroleum cokes has shifted in recent months as an influx of Canadian crude shipping via the TMX pipeline has adjusted refiner's crude slates and displaced imports from Latin America and the Middle East. California's Canadian crude imports from January-July totalled Canadian crude accounted for 9pc of California's crude imports in the first seven months, up from 4pc in the same period the year prior. The state's imports of Canadian crude in June and July, the first two months of full TMX operations, were up nearly fivefold on the year. PBF's Martinez imported , bl of Canadian crude from June-July, more than quadruple the amount in the same two months of of Additionally, the sulphur content of Martinez's Canadian crude imports was significantly higher on the year, averaging 1. At the same time, the refiner also increased sour Ecuadorian crude imports by 95pc on the year. Martinez's crude imports had an average sulphur content of 1. The refinery's coke was recently heard to be reaching more than 2. On the other hand, Phillips 66's Carson refinery's coke quality was recently heard to be around or even below 3pc sulphur, down from its typical 4. Carson's Canadian crude imports' sulphur content in June-July averaged 2. Carson also did not import any sour Saudi Arabian crude in June-July, compared with 2. At the same time, Carson increased purchases of sweet Guyanese crude to 1. But Carson and Martinez's coke sulphur content may soon increase as TMX crude becomes more common on the US west coast, market participants said. This could leave Asian buyers searching for 2pc and 4. By Delaney Ramirez Send comments and request more information at feedback argusmedia. Argus Media group. All rights reserved. Houston, 7 October Argus — Kinder Morgan is planning to shut its terminals and fuel racks in Tampa, Florida, on Tuesday as the region prepares for Hurricane Milton to make landfall Wednesday evening. The terminals handle a wide range of bulk products including fertilizers, scrap metal, petroleum coke and coal according to Kinder Morgan's website. Kinder's Tampa refined products terminal has 1. The airport said today that it will cease operations the morning of 9 October in advance of the hurricane. By Nathan Risser Hurricane Milton projected path Send comments and request more information at feedback argusmedia. A market participant said the Kirkuk cargo was shipped from a Mideast Gulf loading point. A political stand-off since March has meant northern Iraq crude cannot be supplied into the Mediterranean region via the pipeline from Kirkuk to Ceyhan, southeast Turkey. The switch to the bitumen-rich crude, after lighter grades had been run through Pancevo in recent months, has also allowed Nis to restart its polymer-modified bitumen PMB manufacturing plant at Pancevo this week. The higher quality grade, which is produced by adding polymers like styrene-butadiene-styrene SBS in the initially produced bitumen mix, is increasingly used on some road, highway and airport projects. Nis plans to run another bitumen-yielding Iraqi crude, Basrah Medium, along with Kirkuk this month, helping significantly boost bitumen production for supply into the country's domestic and export markets — mainly Romania and Bosnia-Herzegovina. The heavier crudes will yield very high-sulphur grades of petcoke, the market participant said. By Keyvan Hedvat Send comments and request more information at feedback argusmedia. Washington, 30 September Argus — Some railroad operations in the southeastern US have resumed in the aftermath of Hurricane Helene, but major carriers warn that some freight may be delayed while storm-damaged tracks are repaired. Rail lines in multiple states were damaged after Hurricane Helene made landfall on the northeastern Florida coast on 26 September as a category 4 storm and traveled northwards as a downgraded but still dangerous storm into Georgia, Tennessee, and the Carolinas. The storm left significant rain and wind damage in its wake, including washed-away roads, flooded lines, downed trees and power outages. Norfolk Southern said it had made 'significant progress' towards its recovery with most major routes back in service including its Chattanooga, Tennessee, to Jacksonville, Florida, line as well as its Birmingham, Alabama, to Charlotte, North Carolina route. Norfolk Southern said freight moving through areas that are out of service could 'see delays of 72 hours'. Several of Norfolk Southern's other routes remain out of service, including rail lines east and west of Asheville, North Carolina, because of historic levels of flooding. There are multiple trees to remove along a mile stretch from Macon, Georgia, to Brunswick, Georgia. And downed power lines are keeping the railroad's lines from Augusta, Georgia, to Columbia, South Carolina, and Millen, Georgia, out of service. CSX said 'potential delays remain' but did not provide specifics. However, the railroad said it had made 'substantial progress' in clearing and repairing its network. The railroad's operations in Florida have mostly reopened, as have rail lines in its Charleston subdivision, which crosses South Carolina and Georgia. A portion of the line running from Erwin, Tennessee, to Spartanburg, South Carolina, has been cleared, but CSX said 'a long-term outage' is expected for other parts of the rail line. By Abby Caplan Send comments and request more information at feedback argusmedia. Traffic moving southbound on the lower Mississippi from Tiptonville, Tennessee, to Greenville, Mississippi, can now have a draught up to Tows traversing Tiptonville to Vicksburg, Mississippi, can have six barges wide, while tows traveling through Vicksburg to Tunica can be up to seven barges wide. Northbound tows cannot draft higher than 9. The same tows cannot have more than six barges wide and more than four of them loaded. All but two locations on the lower Mississippi River rose above their low water threshold and are forecast to remain that way through mid-October, the National Weather Service said. Restrictions were loosened late last week after Hurricane Helene brought flash floods to the southeastern US following weeks of drought conditions along the lower Mississippi River. By Meghan Yoyotte Send comments and request more information at feedback argusmedia. Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. Related news posts Argus illuminates the markets by putting a lens on the areas that matter most to you. Business intelligence reports Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. Learn more.

Venezuela buying coke