In previous deals, buyers sent ships to Venezuelan ports to load the crude.Under the new deals, buyers designate the port for delivery and PDVSA is responsible for getting the oil there, according to the documents.
Aside from some short trips to Cuba, most of PDVSA's tanker fleet has stayed in Venezuelan waters for the last year because sanctions have left them lacking the insurance or certification needed to navigate international waters, or because they are unseaworthy. Other ships need maintenance. PDVSA has struggled to get the work done because it cannot get needed parts or afford to pay for the work. The company has also faced lawsuits and seizure attempts by foreign shipyards that did repairs.
PDVSA also has started to use tankers for international voyages that were initially leased for shipping oil within its waters.In July, PDVSA sent a letter to one of its long-term customers, Thailand's Tipco Asphalt, proposing to use its vessels to export crude with freight costs included, according to the documents.
Tipco has asked permission from the US Treasury to continue receiving Venezuelan oil under a long-term supply contract signed before sanctions were imposed, according to the sources.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK says it's confident of Brexit trade deal as EU changing toneLONDON (REUTERS) - Britain's top minister overseeing Brexit talks said on Friday (Aug 7) he was confident a free trade deal would be clinched with the European Union as there had been a distinct change of tone from the bloc in recent weeks allowing progress to be made.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Microsoft expands TikTok takeover ambitions to entire global business - FTMicrosoft Corp is chasing a deal to buy all of TikTok's global business, including its operations in India and Europe, the Financial Times ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korean farmers bartering sugar for North Korean liquor to bypass sanctionsSEOUL (REUTERS) - A South Korean farmers' cooperative said on Thursday (Aug 6) it has clinched a US$150 million (S$205 million) deal to barter sugar for North Korean liquor and food products, bypassing sanctions banning cash transfers.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
South Korean farmers bartering sugar for North Korean booze to bypass sanctionsSEOUL: A South Korean farmers' cooperative said on Thursday (Aug 6) it has clinched a US$150 million deal to barter sugar for North Korean liquor ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US poised to sanction Hong Kong chief executive Carrie Lam for crackdownWASHINGTON (BLOOMBERG) - The Trump administration is poised to impose sanctions on Chinese officials and their allies in Hong Kong, including Chief Executive Carrie Lam, as soon as Friday (Aug 7) over their role in curtailing political freedoms in the former UK colony, according to three people familiar with the matter.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Formula One: Ferrari, McLaren appeal over 'too lenient' Racing Point sanctionSILVERSTONE, UNITED KINGDOM (AFP) - Ferrari and McLaren confirmed on Friday evening (Aug 7) that they plan to appeal against the FIA's stewards ruling on Renault's protest against the validity of Racing Point's 2020 cars.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »