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Venezuela Snubs U.S. Sanctions With First Oil Import This Year

From bnnbloomberg.ca

Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power. The supertanker Rene is discharging a hydrocarbon known as condensate at the Venezuelan port of Jose, according to a document seen by Bloomberg. It’s the first such import since September, when Petroleos de Venezuela SA took delivery of a cargo of Iranian condensate, which is needed to thin the country’s extra-thick grade of crude. The origin of the cargo aboard the Rene remains a mystery because the vessel’s satellite ... (full story)

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  • Category: Fundamental Analysis