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Eni Resumes Taking Venezuelan Crude

OIL

Eni resumes taking Venezuelan crude in an oil-for-debt deal authorised by the US government, after a four-months pause, according to Reuters.

  • Eni has been assigned two 1mn b cargoes of Venezuelan diluted crude for November loading.
  • The first vessel is in Venezuelan waters waiting to load, while the second one is scheduled to depart from US waters to Venezuela after discharging a previous cargo, Reuters data show.
  • These cargoes are part of an oil-for-debt deal authorized by the US earlier this year, as an exception to sanctions on Venezuela's oil sector.
  • Venezuela’s state-owned oil company PDVSA owes billions of dollars to partners in dozens of oil and gas joint ventures.
    • Energy BulletsCommodities
    Energy BulletsCommodities

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