Venezuela’s dependence on Iranian crude continues to grow. In the coming days, tankers from Iran with a cargo of crude oil of some 1,220,000 barrels, in addition to another 2,000,000 of condensate, are expected to arrive on the Venezuelan coast, in Anzoátegui State.

Spokesmen for the Venezuelan oil company PDVSA have released the news. The company requires a large quantity of diluents provided by Iran to convert the heavy oil into that needed for export. On the other hand, PDVSA also uses Iranian hydrocarbons to produce the gasoline that the Latin American country requires.

According to information provided to the media, this month Venezuela received supplies from Iran through the Very Large Crude Carrier oil tanker, operated by the National Iranian Tanker Company (NITC).

Iran has increased the supply of oil to Venezuela in recent months, in the midst of a global crisis that includes sanctions on the Caribbean nation from the United States and the destabilization generated by the Russia-Ukraine confrontation.

Venezuela has received Iranian South Pars condensate, mainly used in the oil tanker fleet. At the beginning of 2022, the company Naftiran Intertrade Company Ltd. signed a contract with PDVSA for 110 million euros that allowed the renovation of one of the Venezuelan refineries. The commercial collaboration continues, through the importation of Iranian crude and condensate.

M.Pino

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Source: bancaynegocios

La entrada Venezuela will receive 1,220,000 barrels of crude oil from Iran apareció primero en Bitfinance.