Mainly, the company added that the Abqaiq voyage is to be completed prior to the end of the exemption period allowed to wind-down agreements.
The company noted that Venezuela is a frequent loading destination for the company's oil tankers, as it delivers cargoes to ports in India and China. Therefore, the voyage to port of Jose is usual, in comparison to what the media stated.
Moreover, the U.S. sanctions on Venezuela left more than 20 tankers, loaded with 9.6 million barrels of Venezuelan oil, stranded off the U.S. Gulf Coast in the initial ten days following their implementation.
Due to the sanctions, Venezuela's crude exports decreased to 1.275 bpd in January, from 1.37 million that were delivered in December. US imports of Venezuelan crude averaged under 0.5 million b/d last year. The biggest buyer was Citgo, followed by Valero, Chevron and PBF.
Concluding, Bahri supports that it strictly adheres to and ensures full compliance with the applicable laws and regulations in every market where it operates.