The Chinese Defense Firm That Shipped $1.5 Billion Of Venezuelan Oil ...Middle East

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The Chinese Defense Firm That Shipped $1.5 Billion Of Venezuelan Oil
source : OILPRICE ( Middle East ) () 32
A Chinese defense firm has been shipping Venezuelan oil to China since 2020, Reuters has reported, citing unnamed sources, replacing state oil major PetroChina. China Aerospace Science and Industry Corp, or CASIC, has been using three tankers to transport Venezuelan crude to a tank farm it took over from PetroChina. The Chinese state reduces outstanding Venezuelan debt instead of paying for the deliveries, the Reuters sources said. So far, CASIC has shipped oil totaling 25 million barrels worth some $1.5 billion under the formula used for pricing…

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