VENEZUELA'S OIL FOR CHINA WILL DOWN
PLATTS - PetroChina Ltd, the listed subsidiary of state-owned CNPC, expects its crude imports from Venezuela to drop by about a third to around 10 million mt (about 186,000 b/d) in 2019 from 15 million mt in 2018, a senior executive said late Thursday.
The decline in Venezuelan crude flows to China, among the biggest buyers of PDVSA's crude oil, underscores the impact of US sanctions despite supply commitments under oil-for-loan agreements with PetroChina.
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