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

SourceYahoo News
SectorOil & Gas

Oops!Something went wrong.Please try again later.Lucia KassaiJuly 22, 2021, 8:49 AM·2 min readIn this article: Oops!Something went wrong.Please try again later.

(Bloomberg) — 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 transponder has been switched off.

The Panamanian-flagged tanker’s most-recent port of call was in the Indian Ocean nation of Sri Lanka, according to the document.

Venezuela wants to boost oil production to 1.5 million barrels a day by the end of this year, more...