HOUSTON/LONDON : When the supertanker Young Yong sailed to the Chinese port of Qingdao in September last year, it had quality certificates for its cargo stating it was transporting Malaysian crude oil, according to the documents reviewed by Reuters.
Venezuela's oil ministry and state-owned oil company PDVSA did not respond to requests for comment. Iran's mission to the United Nations in New York also did not respond to Reuters questions. PDVSA documents reviewed by Reuters said a vessel named the Comuna loaded 1.98 million barrels of oil in the Venezuelan port of Jose from May 11 to 21 last year.
The Young Yong then stopped near Malaysia between early July and August 2021. While there, on July 8, it obtained a quality certificate from Singapore-based laboratory Saybolt that identified its cargo as Malaysian heavy crude – which has similar characteristics to Venezuela's Merey 16 crude grade. The certificate measures aspects of oil - such as its density and its levels of sulfur and metals - that allow a buyer to be sure a cargo is within a contract's specifications.
Indonesian authorities said in early November that the Young Yong had run aground off the Riau Islands on Oct. 26. UANI said it was carrying Venezuelan fuel oil when it ran aground and was likely trying to reach Nipah, a popular ship-to-ship transfer hub near Indonesian waters, according to satellite pictures and vessel tracking, analyzed by the advocacy group.Christian M.
That represents more than two-thirds of Venezuela's total oil exports from 2019 through October 2022. The remainder went either directly to its ally Cuba or to other destinations in the Caribbean and Europe under exemptions to U.S. sanctions, according to the Reuters calculations.
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