Venezuela Receives Its Second Fuel Aid Shipment From Eni

Venezuela has received a second shipment of fuel from Eni as the country continues to battle fuel scarcity due to its inability to produce enough gasoline and diesel for domestic use.

Venezuela has received a second shipment of fuel for Italian supermajor Eni in a month, Bloomberg has reported, noting the amount of the shipment was 351,000 barrels. The shipment is fuel aid for the country, which cannot produce enough gasoline and diesel to cover the needs of local drivers. The first shipment, coming from Eni and Spain’s Repsol, was 260,000 barrels. The total planned to be shipped from Europe to Venezuela is 900,000 barrels.

Since the U.S. sanction regime does not allow for cash payments involving PDVSA, the Venezuelan company is operating on a barter basis, paying for the fuels with crude oil. Meanwhile, despite its struggle to supply the local market with fuels, PDVSA is ramping up exports of crude oil. In September, the daily average topped 800,000 barrels—the second-highest export rate since the start of the year.

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