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First Venezuelan Crude Cargo to Europe in Three Months Underway

OIL

A 655,000 bbl cargo of Venezuelan heavy crude left on Friday headed for Europe, the first in three months. The cargo has been chartered by a unit of Italy’s Eni SpA.

  • The crude is on the Greek-flagged Aframax tanker Minerva Alexandra, which loaded around 315,000 barrels of Boscan crude and 340,000 barrels of diluted crude oil according to Refinitiv.
  • Last Year, the US authorized Eni and Repsol to take Venezuelan oil to Europe to help clear outstanding debts.
  • The vessel is bound for Repsol’s Cartagena refinery - located in Murcia, Spain - which has processed Venezuelan crudes in the past.
  • Eni received two cargoes of Venezuelan diluted crude in June-July last year and two more shipments in November.
Energy BulletsCommodities
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