[ad_1]
After Iran delivered condensate to Venezuela through an Iranian-flagged tanker, the same tanker is now loading Venezuelan crude oil at a terminal in the Latin American country, defying US sanctions on both countries’ oil industries and exports. Bloomberg reported Wednesday. , citing a shipping report.
The tanker currently known as Honey had discharged condensate from Iran at the Venezuelan port of José earlier this month, Bloomberg reported last week, citing a source with knowledge of the matter and a report.
Now the same tanker, according to the shipping report seen by Bloomberg, is preparing to ship Venezuela’s Merey grade crude, helping the country with the world’s largest crude oil reserves to export more of its oil, while US sanctions have scared many buyers, carriers and insurers out of doing business with Venezuela.
Despite being on top of the world’s largest oil reserves, Venezuela faces a severe gasoline shortage, as refineries cannot operate normally due to a shortage of diluents necessary for fuel production, as well as the urgent need for repairs.
Lack of diluents, lack of maintenance, lack of money, and lack of spare parts have forced Venezuela’s refineries to operate at very low processing rates, if at all, and the holder of the largest oil reserves. the world does not have enough gasoline for its production. persons.
Iran, as another target of US sanctions, has declared its willingness to help Venezuela deal with the shortage and, earlier this year, managed to send fuel shipments to the Latin American country.
Iran is also helping Venezuela reverse its decline in its crude oil production. Iran has sent professionals to help Venezuela repair its dilapidated refineries and is now sending super-light crude known as condensate to Venezuela to mix with heavy crude to produce exportable grades of crude.
By Charles Kennedy for Oil Moderno
More top reads from Oil.eu:
[ad_2]
