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A 2.1 million barrel cargo of Iranian condensate arrived in Venezuela’s waters this week, vessel monitoring knowledge and an organization doc confirmed, ferrying provides to state-run oil agency PDVSA to dilute its additional heavy oil for export.
U.S.-sanctioned Venezuela and Iran final 12 months agreed to a contract for exchanging Iranian condensate, a really mild type of oil, for Venezuelan heavy crude. The commerce has confirmed key to sustaining PDVSA’s manufacturing and increasing its exports.
The Iranian-flagged very giant crude service (VLCC) Dan, operated by state-owned Nationwide Iranian Tanker Firm (NITC), entered Venezuelan Jose port’s anchorage on Tuesday, in accordance with vessel monitoring service TankerTrackers.com.
Dan’s transponder has remained offline since early January, when the vessel crossed the Gulf of Oman carrying an oil cargo, in accordance with Refinitiv Eikon vessel monitoring knowledge.
PDVSA and Nationwide Iranian Oil Firm, the mum or dad firm of NITC, didn’t instantly reply to requests for remark.
The tanker is the second Iranian ship to discharge this 12 months in Venezuela, following the arrival of the VLCC Starla in January, additionally owned and operated by NITC.
Final 12 months, the 2 state corporations exchanged some 4.82 million barrels of condensate for five.55 million barrels of heavy crude, largely transported in Iranian vessels.
Dan is scheduled to begin discharging on Feb. 22 after Starla finishes unloading a second parcel of condensate on the Jose terminal, in accordance with a PDVSA schedule seen by Reuters.
Whereas the alternate has helped PDVSA enhance manufacturing, it additionally has led to delays in discharging oil imports and loading crude cargoes for exports on account of oil high quality issues, an absence of storage capability and port congestion. PDVSA not too long ago has been pressured so as to add floating storage to cope with bulging inventories.
(Reuters – Reporting by Marianna Parraga; Enhancing by Chris Reese)
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