Reuters exclusively reported that Venezuelan state oil firm PDVSA is revamping one of its major processing operations geared to supplying U.S. buyers to instead produce a crude grade favored by Asian refiners. PDVSA is seeking to shrug off sweeping U.S. sanctions on the government of President Nicolas Maduro that since January have effectively halted its oil sales to U.S. refiners.
Reuters reveals Venezuela reshuffling oil output to favor Asia exports amid sanctions
28 June 2019, 12:00 am 1 minute
Type: Reuters Best
Sectors: Commodities & Energy