PDVSA, Eni Cope With Idled Storage

摘要

Venezuelan state oil company Petroleos de Venezuela (PDVSA) and Italy's Eni are looking at options to safely offload crude from a floating storage facility on Venezuela's eastern coast that has remained idle for over a year due to US sanctions, according to sources close to the discussions. The companies suspended output at their joint-venture Petrosucre shortly after Washington imposed sanctions on PDVSA in January 2019, depriving the partnership of its main crude buyer, PDVSA's US-based refining subsidiary Citgo Petroleum (OD Feb.4'19).