World Oil on 1 December reported that Venezuela almost tripled its crude oil exports even as the US continues to tighten sanctions against companies seeking to do business with its ruling regime. Once traditional buyers including Repsol SA and Reliance Industries Ltd stopped buying Venezuelan oil amid sanctions, a string of little-known companies stepped up purchases. While PDVSA documents show vessels like Vinland, Pacific Cape and Vision loading at the port of Jose, these vessels are not operational, and are reported to have been sent to the scrapyard months prior to the scheduled loading dates in Venezuela. That suggests that their names or unique identification numbers are being used by others.
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