Tag: Venezuela

As Reuters reports, Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance (RELI.NS) set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said.

All Clubs in the International Group have issued a similarly worded circular, in which highlight that the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued 4 general licenses suspending certain sanctions in relation to transactions involving oil, gas, and gold in Venezuela.

According to Reuters, while traders said the Israel-Hamas war did not seem to pose a short-term danger to oil supply, anticipation that the U.S. and Venezuela would soon achieve a deal relaxing restrictions on Venezuelan crude exports caused oil futures to fall more than $1 a barrel.

Iran and Venezuela have launched a direct shipping route to enhance trade ties amid U.S. sanctions, the Iranian embassy in Caracas announced in a statement released on Friday 3 March 2023.

West P&I Club informed that Venezuelan Port Authorities have implemented a mandatory protocol for crew changes in all Venezuelan ports, effective from 10 February 2023.

According to the Venezuelan port authorities, as of 10th February, a protocol for crew changes will be implemented in all Venezuelan ports and the UK P&I Club provides related updates.

A Venezuelan oil terminal experienced fire after a loading hose broke while a tanker was being loaded. The incident took place on September 17 at the Guaraguao facility in Puerto La Cruz.

Venepandi informs operators about a danger of navigation in the internal waters of the Venezuelan Caribbean Sea, specifically to the vessels that are heading towards the ports of eastern Venezuela, caused by a large rock. 

The US decided to ease sanctions to enable Venezuelan oil to be transported to Europe to help those countries reduce their dependence on Russian oil.

An Iran-flagged supertanker on Saturday was about to set sail from Venezuelan waters carrying 2 million barrels of heavy crude, according to documents seen by Reuters.