PDVSA Said Seeking Sweet Oil From North Sea, Africa for Blending
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Petroleos de Venezuela SA is looking to import sweet crude from as far away as West Africa or the North Sea to mix with its heavy oil and produce refined oil products, according to two people familiar with the discussions.
A delegation from PDVSA, as the state producer is known, traveled to Houston late April to seek long-term structured supply deals for 40 to 42 degree API oil from West Africa or the North Sea rather than grades from the U.S., the people said, asking not to be identified because talks are private.