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Venezuelan state oil company suspends oil supplies to Europe

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Petroleos de Venezuela SA (PDVSA) has suspended oil shipments to Europe in accordance with an agreement that allowed the use of hydrocarbons to pay off the debts of the Venezuelan state-owned company.

The suspension was initiated by the World Energy Trade (WET) portal, which specializes in oil, gas, electricity, minerals and mines, as well as the Venezuelan press, which reports that PDVSA “asked the Italian ENI and the Spanish Repsol to provide it with fuel in exchange for future supplies “.

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“Venezuelan oil company PDVSA is no longer interested in oil-for-debt swaps that the US State Department authorized in May that allowed supplies to Europe to resume after a two-year suspension caused by US sanctions,” WET explains.

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Author: Lusa
Source: CM Jornal

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