Venezuelan oil shipment arrives in Texas
The first cargo of Venezuelan crude under a deal between the US and producer NABEP unloaded in Texas on Tuesday and will be sold by the US government to refineries run by Exxon Mobil and Venezuelan-owned Citgo Petroleum, a White House official said. NABEP confirmed in a statement it supplied 1 million barrels of Venezuelan oil as part of the deal. US President Donald Trump visited the port on Tuesday, where one of the vessels carrying the heavy crude served as a backdrop for his speech. The government received the oil "at no cost," the White House official told Reuters, while Trump called it a gift earlier in the day. NABEP's statement, which initially characterised the shipment as part of Washington's right to buy 20 percent of production at cost with no markup, was later updated to say the cargo came at no cost to US taxpayers "to recognise the historic nature of the agreement." "They've sent me as a gift a boatload of a million barrels of oil, and I'm giving that to the United States of America,” Trump told reporters. He later called it the "first shipment of BILLIONS of Barrels to come" in a post on Truth Social. The delivery is the...
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