Venezuelan State Oil Company DVSA Starts Oil Transfer Despite US Sanctions

Venezuelan state oil company DVSA has begun transferring crude off of an offshore oil facility despite US sanctions, where governments of two neighboring nations have expressed concerns about potential spill.

Venezuelan state oil company DVSA has begun transferring crude off of an offshore oil facility despite US sanctions, where governments of two neighboring nations have expressed concerns about potential spill.

According to an El Pais Wednesday morning report, two people familiar with the matter reveled these oil operations, pointing out that PDVSA began the first of several transfers from the Nabarima floating storage and offloading facility onto the Inmaculada barge.

The sources told the newspaper that the Inmaculada will ferry the crude onto PDVSA’s Icaro tanker, a process that is expected to take weeks. Refinitiv Eikon tracking data revealed that the Icaro navigated toward Nabarima on Tuesday night and anchored nearby in the Gulf of Paria.

The Nabarima is currently holding some 1.3 million barrels of crude. The images of the facility listing in September and October raised alarms about a potential spill.

Authorities from neighboring Guyana and Trinidad and Tobago toured the vessel in October. They said that while they were satisfied the Nabarima was in stable condition, the offloading process posed risks.


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