oil shippers for defied US imposed sanctions on Cuba and Venezuela
The FSO Alba Marina, blacklisted because her operator allegedly transported Venezuelan petroleum to
Cuba on a different vessel
Treasury delists two oil shippers for cutting Cuba ties
Platts Analytics sees Venezuelan oil output falling to 650,000 b/d by end 2020
Petroleumworld 09 26 2019
The US Treasury Department Tuesday sanctioned four oil shipping companies and four tankers for moving Venezuelan crude and refined products to Cuba.
The action targets Cyprus-based Caroil Transport Marine, which operates the sanctioned chemical/product tankers Carlota C, Petion, and Sandino. It named Panama-based shippers Trocana World, owner of Petion, and Tovase Development, owner of Sandino.
Treasury also named the Giralt crude tanker and its Panama-based owner Bluelane Overseas.
At the same time, Treasury delisted two tankers for discontinuing trade with Cubametales: the Greek-flagged New Hellas crude tanker owned by Lima Shipping and the Panama-flagged Leon Dias chemical/oil tanker owned by Serenity Maritime.
"Treasury recognizes the actions that Serenity Maritime Limited and Lima Shipping Corporation took to ensure that these entities' respective vessels no longer support the economic interests of the illegitimate former Maduro regime," Treasury said in a statement.
In July, Treasury sanctioned Cubametales, Cuba's state-run oil import and export company, for continuing to import crude and other products from Venezuela in exchange for helping the Maduro regime with defense and security.
Venezuelan oil output averaged 750,000 b/d in August, down from 1.6 million b/d in January 2018, according to the US Energy Information Administration.
S&P Global Platts Analytics expects Venezuelan production to fall to 650,000 b/d by December 2020.
The US imposed sanctions on PDVSA in January, effectively creating a US embargo on imports of Venezuelan crude.
Treasury Secretary Steven Mnuchin said Tuesday the US continues to take strong action against the Maduro regime.
"Maduro's Cuban benefactors provide a lifeline to the regime and enable its repressive security and intelligence apparatus," Mnuchin said in a statement. "Venezuela's oil belongs to the Venezuelan people, and should not be used as a bargaining tool to prop up dictators and prolong the usurpation of Venezuelan democracy."
Meghan Gordon from SPGlobal Platts.
/ 09 25 2019
We invite you to join us as a sponsor.
Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.
Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.
We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.
Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.
Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.
Write to firstname.lastname@example.org
By using this link, you agree to allow PW
to publish your comments on our letters page.
Any question or suggestions,
please write to: email@example.com
Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels