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Article: Japan takes Venezuelan crude.(International)
- Article from:
- The Oil Daily
- Article date:
- August 7, 2007
CopyrightCOPYRIGHT 2007 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Japan will receive 2 million bbl of crude from Venezuela in October, a rare occurrence in a country that relies heavily on Mideast imports.
Oil traders Mitsui and Marubeni expect to receive the crude as part of a loan repayment from Petroleos de Venezuela (PDV). In February, the Japanese firms and the Japan Bank for International Cooperation signed an agreement to extend a $3.5 billion loan to PDV, to be repaid in the form of crude and oil products.
According to Reuters, Mitsui and Marubeni ...