Wison Engineering Services Co. Ltd., a Shanghai-based chemical engineering and construction company, agreed last month to repair Venezuela’s main refineries in exchange for oil products including diesel, reported Caixin.
The deal mirrors the OPEC producer’s other arrangements with Russian and Chinese oil majors, under which payments are made in crude by Venezuela’s cash-strapped national oil company. Last month state-controlled Petroleos de Venezuela SA was importing Russian gasoline through Malta to relieve shortages, a slow and expensive route to the Caribbean nation.
The move to shore up the country’s derelict refining network could potentially complicate the Trump administration’s push for a regime change, said Caixin.
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