Russia's state-controlled Rosneft is directing some of the
supplies it receives as repayment loans to Venezuela towards China, as outlets for
the US sanctions-hit crude diminish. Rosneft has sold a May-delivery cargo of
Merey to an independent refiner in China's Shandong region, with traders saying
the Russian company would not turn to European buyers to dispose of excess
Venezuelan supplies. Caracas is repaying a debt of roughly $2.3bn to Rosneft in
crude, which the Russian firm primarily takes to its 400,000 b/d Nayara system
in Vadinar, India. More… 
Friday, March 29, 2019
Rosneft turns to China as Venezuela crude outlet:Update
Russia's state-controlled Rosneft is directing some of the
supplies it receives as repayment loans to Venezuela towards China, as outlets for
the US sanctions-hit crude diminish. Rosneft has sold a May-delivery cargo of
Merey to an independent refiner in China's Shandong region, with traders saying
the Russian company would not turn to European buyers to dispose of excess
Venezuelan supplies. Caracas is repaying a debt of roughly $2.3bn to Rosneft in
crude, which the Russian firm primarily takes to its 400,000 b/d Nayara system
in Vadinar, India. More… 
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