Venezuela’s state-owned oil firm PDVSA has started loading of Venezuelan heavy crude to an Iran-flagged very large crude carrier (VLCC), Reuters reported, citing a source familiar with the matter. The VLCC brought Iranian condensate and arrived at the port of Jose in September. PDVSA requires condensate as a diluent for its extra-heavy oil production.
According to the source, the vessel is now due to ship up to 2 million barrels of Merey 16 heavy crude in a sale agreement with state-controlled National Iranian Oil Company (NIOC). The source said that the tanker’s sailing date and the destination had not been scheduled. Tanker tracking data suggested that the vessel put its transponder off when sailing from Iran and while in Venezuelan waters.
Public shipping registries said many tanks switch their transponders off, change the name, and change managing companies when entering Venezuelan waters to avoid US sanctions. Three Iranian tankers are reportedly sailing toward Venezuela, bringing gasoline and other fuel. In July, the US seized more than 1 million barrels of Iranian fuel bound to the South American country.
