The ChinComs **might** be able to run 200K bbl/day...maybe. They're making noises about building more capacity for the Venezuelan crap, but -- believe it -- this project ranks way the hell down the list, because their first construction priority is to create (somehow) housing for the X hundred million rural peasants who will come into the cities in the next decade or so.
Bottom line? Noise and panegyrics aside, ol' Yugo (no typo) don' got no customers for his sludge what kin do nottin' wit' it. Except us, and to a limited degree the Dutch and English.
Oh, and did I mention that tankers that carry this crap grade of crude have to be specially cleaned, too? Yep. Or they'll corrode right out, lose perhaps 2/3rds of their expected lifetime.
'Export to someone else'? Yah, right. Who? This is every bit as threatening to the crude mkt as Ahmalamadingdong's threat to institute an embargo. Not a chance; he's desparate for cash flow and his economy is already in the dumper...unless you believe that having scientists and doctors work as cabbies to put food on the family table is a sign of a healthy economy.
Only a question of time before the under-30 crowd in Iran start picking up rifles. Yugo likely had better pay some attention to this point in his own nation, too.
The USAF depends on low V fuel, and Venezulean crude is low in Vanadium. V can be removed, but it is expensive, and never 100%. Look up any jet fuel manual to see that it has to be below parts per million.