Venezuela receives condensate crude for oil blending

Oil

Venezuela’s state-run Petróleos de Venezuela (PDVSA) has imported 620K bbls of condensate crude oil this week as part of an attempt to boost the blending and upgrading of crude from the Country’s Orinoco belt, Reuters report. This is the first condensate cargo that Venezuela has received since September 2020, with PDVSA mostly using the light crude to dilute to the heavier crude produced within the Orinoco region.