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home / news releases / REPYY - Repsol and ENI back to trading Venezuelan oil

REPYY - Repsol and ENI back to trading Venezuelan oil

Repsol S.A. ADR
According to sources cited by Reuters, ENI (E) and Repsol (OTCQX:REPYY) are set to resume shipping Venezuelan oil (CO1:COM) to Europe. Nearly two years after US sanctions halted commercial activity, the US State Department will permit Venezuela's state oil company to swap oil with European counterparts in exchanged for debt relief. There's no indication ENI (E) and Repsol (OTCQX:REPYY) will be permitted to return to exploration and development work in country. Conversely, Chevron's (CVX) request to take oil (CO1:COM) in exchange for past debts was reportedly denied; however, the supermajor has been permitted to perform maintenance work in country.

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Repsol and ENI back to trading Venezuelan oil
Stock Information
Company Name: Repsol S.A. ADR
Stock Symbol: REPYY
Market: OTC
Website: repsol.com
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