RIO DE JANEIRO, BRAZIL - Venezuela’s state-run oil company PDVSA this week began using a new location near La Borracha island in the Caribbean sea for transferring Venezuelan crude from one ship to another for exports, according to tanker tracking data seen by Reuters.
PDVSA, whose exports have been hit by U.S. sanctions, in late 2018 tested the spot near La Borracha, about 16 kilometers (10 miles) off the coastal city of Puerto la Cruz, but it had not used it until now, according to shipping sources.
In recent weeks, the company informed customers about the possibility of . . .