Energy producer Eni has completed loading a shipment of one million barrels of Venezuelan heavy crude this week, destined for Spain. This marks the company's first receipt of Venezuelan crude in nearly two years, following the granting of an export license by the United States.
Since Caracas and Washington reached a key supply agreement in January, traders such as Trafigura and Vitol have handled the majority of Venezuela's oil exports. However, partners of Venezuela's state-owned oil company, including Eni, are now also permitted to export crude to various destinations under the license.
The Marshall Islands-flagged tanker Front Cruiser departed from Venezuela's Jose terminal on Tuesday, heading for the port of Cartagena in Spain.
Eni did not immediately respond to requests for comment.