Iranian supertanker departing from Venezuela to transport heavy oil

2

HOUSTON/CARACAS, Oct 16 (Reuters) – An Iran-flagged supertanker on Saturday was about to set sail from Venezuelan waters carrying 2 million barrels of heavy crude supplied by state-run oil agency PDVSA (PDVSA.UL), in accordance to paperwork seen by Reuters and vessel monitoring providers.

The cargo is a part of a deal agreed by PDVSA and its counterpart National Iranian Oil Company (NIOC) that exchanges Iranian condensate for Venezuela’s Merey crude. The swaps purpose to ease an acute scarcity of diluents that has minimize Venezuela’s oil output and exports, Reuters reported final month. learn extra

Dino I, a really giant crude provider (VLCC) owned and operated by NIOC’s National Iranian Tanker Company (NITC), completed loading the Venezuelan oil at PDVSA’s Jose port late Friday, in accordance to the paperwork, a supply and monitoring service TankerTrackers.com.

The bilateral oil commerce could possibly be a breach of U.S. sanctions on each nations, the U.S. Treasury Department advised Reuters final month, citing authorities orders that set up the punitive measures.

The vessel arrived in Venezuela in September with its transponder turned off whereas carrying 2.1 million barrels of Iranian condensate. The gentle oil fed PDVSA’s Petrolera Sinovensa, Petropiar and Petrocedeno initiatives within the nation’s Orinoco Belt. learn extra

A second condensate cargo of comparable measurement is predicted to be delivered to Venezuela within the coming weeks as a part of the swap routine, which can be in impact for six months in its first part.

Venezuela’s oil ministry, PDVSA and NIOC didn’t reply to requests for remark.

PDVSA first launched the trade final month by sending 1.9 million barrels of Merey heavy crude on the Iran-flagged supertanker Felicity.

The trade gives the OPEC nation with a secure provide of mixing materials wanted to convert its further heavy oil into exportable grades. The pact additionally delivers heavy oil to Iran for mixing, refining or advertising to Asian clients.

Iran and Venezuela have strengthened their cooperation within the final yr even beneath the watchful gaze of the United States, which has in recent times reimposed sanctions on Iranian state entities, together with NIOC, and in 2019 blacklisted PDVSA.

Reporting by Marianna Parraga in Houston and Deisy Buitrago in Caracas; Editing by Gary McWilliams and Andrea Ricci

An oil tanker is docked while oil is pumped into it at the ships terminal of PDVSA's Jose Antonio Anzoategui industrial complex in the state of Anzoategui April 15, 2015. REUTERS/Carlos Garcia Rawlins/File Photo