Venezuela’s state-owned oil firm PDVSA is moving to market its crude oil overseas by enlisting its joint venture partners, including U.S. supermajor Chevron, to sell cargoes to buyers in Asia and Africa, Reuters reported on Monday, quoting PDVSA documents and sources at the joint ventures. Even with the U.S. sanctions on its oil, PDVSA’s partners in the various joint ventures could market cargoes not breaching those sanctions, if the oil revenues are used to repay debts of those joint ventures, sources told Reuters. The U.S. sanctions on Venezuela’s oil exports essentially ban U.S. imports of oil from Venezuela, and the Latin American country saw its total exports slump in 2019. Russia’s Rosneft has emerged as the biggest trader of Venezuela’s crude oil, as it helps PDVSA sell its oil and arrange the financing. But now, PDVSA is trying out the new method to sell its oil by allocating cargoes […]