economy
First Ship with Venezuelan Crude Arrives in Spain as Payment for Gas Produced by Repsol
The first ship carrying crude oil from Venezuela as payment for the gas that Repsol produces in the Cardón IV asset – jointly operated with Italian company ENI and used to supply the South American country's electricity generation plants – has arrived in Spain. According to information provided this Tuesday by sources from the Spanish energy company, its arrival follows the agreement reached with the Venezuelan government, within the framework of the general license issued by the US administration.
TL;DR
- The first ship with Venezuelan crude oil has arrived in Spain as payment for gas produced by Repsol.
- The gas is from the Cardón IV asset, jointly operated by Repsol and ENI, supplying Venezuela's electricity plants.
- The payment is part of an agreement with the Venezuelan government under a US-issued general license.
- The strategic agreement, signed in March, aims to reinforce long-term gas production stability and define payment mechanisms.
- Venezuelan officials celebrated the agreement with Repsol and ENI, highlighting their continued presence in the country.