From the Maldives to Venezuela: how Iran gets oil to an ally

div classBodysc17zpet90 cdBBJodivpBy Marianna Parragap

pHOUSTON Reuters – A Venezuelaowned tanker in March sailed to a remote spot in the Indian Ocean and met an Iranflagged vessel, took on a cargo of Iranian condensate and sailed home, according to monitoring services and shipping documents.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe shiptoship transfer off The Maldives was the latest tactic by the two countries to keep their oil flowing to markets despite U.S. sanctions. The widening energy cooperation between the nations is helping cashscrapped Venezuela obtain supplies to convert its extraheavy oil and boost exports.p

pTwo Iranian very large crude carriers VLCC were in Venezuelan waters discharging imported condensate and crude for stateowned oil company PDVSA this month, as Irans oil minister Javad Owji met in Caracas with Venezuelan President Nicolas Maduro.p

pSince 2020, Iran also has helped its South American ally by sending gasoline and equipment for repairing PDVSAs dilapidated refineries. One plant is restarting this month after a lengthy revamp. p

pVenezuelaowned tanker Maximo Gorki, operated by PDVSAs maritime arm PDV Marina, is the only supertanker the South American nation has left after losing in 2020 three others to PetroChina Co as part of a debt dispute.p

pThe tanker is mostly used for moving PDVSAs oil between domestic ports, but it also has carried crude to Asia since Washington imposed sanctions on Venezuelan oil in 2019.p

pEarly this year, PDV Marina had to send a replacement crew to China to rescue Maximo Gorki, which was stranded for weeks due to mechanical problems. p

pIn March, the tanker finished transferring a cargo of Venezuelan heavy crude in the South China Sea, according to TankerTrackers.com, a monitoring service that used satellite pictures to identify the vessels.p

pDays later, the Maximo Gorki loaded Iranian condensate, also via a shiptoship STS transfer 37 nautical miles from The Maldives, from the VLCC Huge, a National Iranian Tanker Co NITC vessel, TankerTrackers.com said. p

pReuters could not independently verify the vessels identities. PDVSA and NITC did not reply to requests for comment. p

pThe Maldives government did not immediately reply to a request for comment. The STS transfer took place outside its territorial waters. p

pON ITS WAY p

pThe Maldives STS exchange was new for Venezuela, but Iran has conducted at least one prior exchange in waters near the archipelago, according to United Against Nuclear Iran UANI, an advocacy group that monitors Iranrelated tanker traffic. p

p“As Maximo Gorki was making its voyage toward Venezuela, Iran was able to send out a NITC tanker to meet it near The Maldives,” said Claire Jungman, UANIs chief of staff.p

p“The location is strategically convenient for Iran, taking roughly five days for the Iranian tankers to get from Khor Fakkan to Male,” The Maldives capital. p

pThe supertanker last week docked in Venezuela and discharged part of its 2millionbarrel cargo of Iranian condensate. It followed by days the arrival of Iranian vessels Dino I and Derya, which brought Iranian heavy crude and condensate, respectively, part of a swap agreement signed last year by the two states oil companies. p

pAt least another 2 million barrels of Iranian oil and 1 million more barrels of condensate are expected to be imported this month. PDVSA plans to send heavy crude and fuel oil to Irans National Iranian Oil Co. in exchange, a source involved in the cargo scheduling said. p

pNIOC did not reply to a request for comment.p

p

pp Reporting by Marianna Parraga Editing by David Gregoriop

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