Overview
- Trafigura said it and Vitol are acting at the U.S. government’s request to provide logistical and marketing services for Venezuelan crude under special licenses.
- Trafigura indicated a first vessel should load within about a week as traders move to lift initial cargoes.
- Vitol and Trafigura are offering cargoes for March delivery to refiners in China and India, with outreach to PetroChina and Indian state-run buyers.
- Trade sources said Vitol proposed pricing to Indian refiners at roughly $8–$8.50 per barrel below ICE Brent on a delivered basis.
- Reuters reports Washington and Caracas are close to a roughly $2 billion deal to sell up to 50 million barrels of stranded Venezuelan crude, while major U.S. oil companies remain cautious and Chevron sees only limited near-term output gains.