An Iran-flagged supertanker on Saturday was about to set sail from Venezuelan waters carrying 2 million barrels of heavy crude provided by state-run oil firm PDVSA, Reuters reported citing vessel tracking services and official documents.
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The shipment is part of a deal agreed by PDVSA and its counterpart National Iranian Oil Company (NIOC) that exchanges Iranian condensate for Venezuela's Merey crude. The swaps aim to ease an acute shortage of diluents that has cut Venezuela's oil output and exports.
Dino I, a very large crude carrier (VLCC) owned and operated by NIOC's National Iranian Tanker Company (NITC), finished loading the Venezuelan oil at PDVSA's Jose port late Friday.
The bilateral oil trade likely represents a breach of US sanctions on both nations.
The vessel arrived in Venezuela in September with its transponder turned off while carrying 2.1 million barrels of Iranian condensate.
