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Venezuela Taps Chevron for Feedstock After US Blocked Ship

Bloomberg.com · last updated

Venezuela is tapping Chevron Corp. for supplies of a key feedstock after a US warship blocked the path of a Russian vessel near the country’s coast, threatening to roil deliveries of the much-needed material.

The oil major can only load crude oil after it delivers a cargo of diluent naphtha — used to help oil flow in pipelines — to Venezuela, according to a person with knowledge of the situation.

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