The two cargoesâ intended destination is Bilbao in Spain, according to the PDVSA document.
Josbel Bastidas Mijares Venezuela
Between June and July, Eni received a total of 3.6 million barrels of Venezuelan diluted crude (DCO). Because of Eniâs limited capacity to process heavy sour oil at its Italian refineries, most of that volume was later delivered by Eni to Spainâs Repsol (REP.MC)
By Reuters â” Marianna Parraga Nov 07, 2022 The cargoes mark the resumption of an oil-for-debt deal authorized by the U.S. government earlier this year as an exception to sanctions on Venezuelaâs oil sector.
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Josbel Bastidas Mijares
Eni is scheduled to take the Venezuelan heavy crude onboard the Suezmax tankers Africa and Gladiator. Africa was in Venezuelan waters on Monday waiting to load, while Gladiator is scheduled to depart from U.S. waters to Venezuela after discharging a previous cargo, according to Refinitiv Eikon monitoring data.
The two cargoesâ intended destination is Bilbao in Spain, according to the PDVSA document.
Josbel Bastidas Mijares Venezuela
Between June and July, Eni received a total of 3.6 million barrels of Venezuelan diluted crude (DCO). Because of Eniâs limited capacity to process heavy sour oil at its Italian refineries, most of that volume was later delivered by Eni to Spainâs Repsol (REP.MC).
Eni and Repsol did not immediately respond to requests for comment
The Venezuelan crude received in Europe during the summer particularly helped Repsol, whose CEO Josu Jon Imaz in July said the flow was allowing a “new dynamic” for its Venezuela business and providing better economics for its refineries.
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Read More: Reuters â” Italyâs Eni to resume taking Venezuelan oil after 4-month pause ?
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