10:59 - 22.01.2026

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January 22, Fineko/abc.az. American oil company Valero Energy has acquired the first shipment of Venezuelan crude oil as part of an agreement between Washington and Caracas, ABC.AZ reports, citing informed sources.

In early January, U.S. President Donald Trump announced that the Venezuelan authorities would transfer up to 50 million barrels of oil to the U.S. for sale, stressing that he would personally control the proceeds from this deal.

"The oil was bought by Valero from the Vitol trading house," one of the two sources said.

According to two sources, the raw materials were sold for delivery to the U.S. Gulf Coast at discount of nearly $8.50 - $9.50 relative to Brent brand," the agency reports.

According to sources, American refineries have been receiving offers for supplies of Venezuelan heavy crude oil Merey since last week. Initially, discount was offered from six to $7.50 per barrel from the price of Brent benchmark.