Vitol, Trafigura Are in Talks With US Refiners to Gauge Interest in Venezuelan Oil
Oil rigs on Lake Maracaibo in Cabimas, Zulia state, Venezuela.
Source: Bloomberg
Trafigura Group and Vitol Group, two of the world’s largest commodities trading houses, are in discussions with US refiners to gauge interest in buying Venezuelan oil after President Donald Trump said the South American country would relinquish as many as 50 million barrels to the US.
The energy-trading giants obtained preliminary US Treasury licenses to sell the barrels, according to people with knowledge of the situation. Both have notified major US fuelmakers about an upcoming offer, one of the people said.