Exxon Mobil bans use of oil tankers linked to Venezuela in past year -sources

HOUSTON, Oct 4 (Reuters) – Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to four people familiar with the matter, placing new pressure on the U.S. sanctioned country and on global crude freight rates.

The largest publicly-traded oil producer’s contract clause would affect about 250 tankers, two of the people familiar with the matter estimated. Exxon did not immediately respond to requests for comment. Over 25 foreign vessels touch Venezuelan ports per month, according to PDVSA’s and Refinitiv Eikon data.

Reporting by Collin Eaton in Houston, Marianna Parraga in
Mexico City, Jonathan Saul in London and Devika Krishna Kumar in
New York
Editing by Chizu Nomiyama

This post was originally posted on Reuters: Company News – View Original Article

Please follow and like us:

About the Author

Have lived and invested in Venezuela full time for the last eight years and visited for each of twelve years prior to that. Studied and closely followed developments in Venezuela since 1996.