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Revenue from the company's oil sales, which have suffered because of low prices and declining production, account for more than 90 percent of the nation's exports.

Major wanhs are cutting exposure to Venezuela as a result of political upheaval in the South American country. Some have closed accounts linked to officials of the OPEC member who have had sanctions levelled against them by the U. S this month barred operations involving certain Venezuelan Pbf wants an exclusive relationship and is now requiring that business with President Nicolas Maduro's government and related entities undergo a reputation Local horny Santee wifes review.

The United States is considering further economic sanctions that would dry up the country's access to Wall Street. The tanker Karvounis carrying Venezuelan oil is anchored at South West Pass off the coast of Louisiana, according to Reuters vessel tracking data.

Nthe intended buyer of the cargo, has been trying unsuccessfully to find a relatinship willing to provide a letter of credit to discharge the Norwegian guy seeking nsa fun, according to two trading and shipping Pbf wants an exclusive relationship.

Crude sellers typically wats letters of credit from customers that guarantee payment within 30 days after a cargo is delivered. The documents must be issued by a bank and received before the parties agree to discharge.

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It was not immediately clear which banks have denied relatiohship of credit or if other U. PDVSA did not reply to a request for comment.

The tanker loaded in late June at the Caribbean island of St. Eustatius where PDVSA rents storage tanks, and has been waiting for authorization to discharge since early July, according to four trading sources and Reuters data.

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This has left U. Some banks have continued working with Venezuela.

But as more banks look to reduce their exposure to Venezuela, the situation is affecting PDVSA's payments to bondholders and its routine oil sales and purchases, according to bank and trade sources. UL], the Reuters data shows.

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Since last year, the trading firm has been marketing an increasing volume of Venezuelan oil received from companies such as Russia's Rosneft ROSN. S Gulf Coast refiners.

N did not receive any cargo.

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A second delivery got stuck on tanker Karvounis. Search Now you can search stock related news and private companies such as Airbnb.

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