Oil tankers backlog builds up in Venezuela

A backlog of tankers waiting to unload around Venezuela has built up, even though a crude cargo from France’s Total and another six tankers carrying products were recently discharged at state-run PDVSA’s ports after weeks of delays, according to Reuters tracking data and shippers.Several oil providers and PDVSA have agreed to a type of prepayment mechanism that involves loading cargoes and paying for them just before delivery, but even so some unpaid cargoes have been swirling around Venezuelan ports since November, traders said. More…