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The first shipment of Venezuelan crude oil under a new agreement between the United States and North American Blue Energy Partners (NABEP) arrived in Texas on Tuesday. The cargo is to be sold by the U.S. government to refineries operated by Exxon Mobil and Citgo. According to a statement from NABEP, the delivery marks the beginning of a broader arrangement involving the U.S. Departments of State and Defense. Under the terms, the U.S. government will have the right to purchase 20 % of NABEP’s production at cost price, without a profit margin, and will receive a 35 % equity stake in NABEP’s parent company. The information was reported by EFE. Article source: El Nuevo Diario | Image credit: El Nuevo Diario
The first shipment of Venezuelan crude oil under a new agreement between the United States and North American Blue Energy Partners (NABEP) arrived in Texas on Tuesday. The cargo is to be sold by the U.S. government to refineries operated by Exxon Mobil and Citgo. According to a statement from NABEP, the delivery marks the beginning of a broader arrangement involving the U.S. Departments of State and Defense. Under the terms, the U.S. government will have the right to purchase 20 % of NABEP’s production at cost price, without a profit margin, and will receive a 35 % equity stake in NABEP’s parent company. The information was reported by EFE.
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