Polish refiner Orlen has scrapped contracts to purchase Venezuelan crude and oil products after losing millions of U.S. dollars on prepayment for cargoes that haven’t been loaded while a wind-down period of the return of the U.S. sanctions on Venezuela has begun, a manager at Orlen has told Reuters. Refiners and traders flocked back to trade with Venezuela at the end of last year after the United States lifted most sanctions on Venezuela’s oil industry after the Nicolas Maduro government reached a deal with the opposition…
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