Eni and Repsol could start shipping in July, resuming oil-for-debt swaps, say sources
An oil tanker outside the Puerto La Cruz oil refinery in Puerto La Cruz, Venezuela. Picture: REUTERS/ALEXANDRA ULMER
The US state department gave the nod to the two companies to resume shipments in a letter, the sources said. The authorisations came last month, but details and resale restrictions have not been reported previously.Washington has not made similar allowances for US oil major Chevron Corporation, India’s Oil and Natural Gas and France’s Maurel & Prom, which also lobbied the US state department and Treasury to take oil in return for billions of dollars in accumulated debt from Venezuela.
Venezuela vice-president Delcy Rodriguez tweeted last month that she hoped the US overtures “will pave the way for the total lifting of the illegal sanctions which affect our entire people”. Washington maintains further sanctions relief on Venezuela will depend on progress towards democratic change as Maduro negotiates with the opposition.
The letters assured them they would face no penalties for taking Venezuelan oil cargoes to collect on pending debt, said two people in Washington.
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