China National Petroleum Corp (CNPC), a leading buyer of Venezuelan oil, will sk...
SINGAPORE - China National Petroleum Corp , a leading buyer of Venezuelan oil, will skip cargo loadings for a second month in September as the state oil giant looks to avoid breaching U.S. sanctions, two sources with knowledge of the matter said.
“CNPC at the group level has made it clear not to load Venezuelan oil,” said one source with direct knowledge of CNPC’s position on Monday, without giving a timeline on how long the suspension would last. However, the order threatens to freeze U.S. assets of any person or company determined to have “materially assisted” the Venezuelan government.
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