Supertanker chartered by Polish firm to load Venezuelan oil for China

supertanker chartered by polish firm to load venezuelan oil for china 1

Polish oil and gas firm Orlen has provisionally chartered a supertanker to load Venezuelan oil for China, according to a shipbroker and tracking data, following a temporary easing of US sanctions on the South American country.

The Very Large Crude Carrier (VLCC) Olympic Trophy, chartered for US$13 million, is scheduled to load in early December, according to a source and ship tracking data on Kpler.

Vitol, the world’s largest independent oil trader, chartered a supertanker earlier this month to load Venezuelan crude for China. Commodities trader Trafigura also chartered a vessel to carry Venezuelan fuel oil for exports, which is currently loading.

US eases Venezuela oil, gas sanctions after ‘democratic developments’

The US Treasury Department last month issued a general license lifting, until April, sanctions on Venezuela’s oil production and exports, which has prompted early deals by trading houses buying cargoes from little known intermediaries that have been registered as customers of state company PDVSA.

South China Morning Post

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