Refinery Disaster Will Be Hit to Venezuela's Oil Industry

Nation may have to start importing oil.


The deadly blast and fire at Venezuela's biggest refinery are bringing financial consequences for the state oil company.

Analysts say that the explosion and fire at the Amuay refinery could mean a financial hit for state-run Petroleos de Venezuela SA by forcing it to further increase imports of fuel for domestic consumption in the aftermath of the disaster.

The refinery remained shut down on Wednesday, a day after firefighters put out the last of the blazes that had raged in fuel tanks since the explosion on Saturday. Officials say the blast killed at least 41 people and injured more than 150.