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Italy Allocated Venezuelan Crude Cargo for Feb Loading

OIL

Venezuela's PDVSA has allocated an oil cargo to a unit of Eni for a February loading.

  • It would be the first cargo to the Italian firm since the recent contract suspension that saw Venezuelan crude exports fall last month.
  • Eni and Repsol received authorisation from the US State Department to take crude to Europe in exchange for outstanding debt.
  • Eni received two cargoes of Venezuelan diluted crude in June-July last year and two more shipments in November.
  • The February cargo is set to load via sip-to-ship transfer at Venezuela’s Amuay STS area.
  • The US pulled in 2.3 million barrels of Venezuelan heavy crude into the US in January – also for to cover outstanding debt.
Energy BulletsCommodities
Energy BulletsCommodities

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