US authorises US diluent supply to Venezuela oil sector

WASHINGTON – The US Treasury Department on Feb 3 issued a new license authorising the export and sale to Venezuela of US diluents, a key fuel needed to produce exportable crude oil grades in the OPEC country, according to a document shown to Reuters by an administration official.

The authorisation, which is Washington’s second general license granted so far to ease sanctions on Venezuela following the US capture of President Nicolas Maduro
in January, supports the administration’s policy of recovering Venezuela’s oil sector, the document says.

It expressly authorises processing of payments from Venezuela’s government for the authorised transactions.

The US Treasury last week issued a broad license allowing US companies to load, transport, store, sell and refine Venezuelan oil. REUTERS