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Europe to Receive First Venezuelan Crude in Years as Sanctions Ease

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Italian oil giant Eni Spa and Spanish refiner Repsol SA are poised to import Venezuelan crude for the first time in two years after the US eased sanctions on the South American country. 

Eni booked two ships provisionally to load oil in Venezuela during June, according to people with knowledge of the situation. The vessels should load a combined 1 million barrels of diluted crude oil, known as DCO, from fields in the Faja region. Together, Eni and Repsol can lift as much as 2 million barrels for now, a person said.