Venezuela is still sending oil to China despite stifling U.S. sanctions, Bloomberg has reported , citing shipping data from Kpler. As of this Monday, the data suggested, there were 3.3 million barrels of Venezuelan crude waiting to unload at Chinese ports and another 5 million barrels en route to the port of Qingdao. “Most of the oil reaches China after a simple ship-to-ship transfer, often with both transponders online,” TankerTrackers.com co-founder Samir Madani told Oilprice.com. The STS, Madani said , most often took place in the Strait of Malacca or the South China Sea, in the most open fashion as the participants believed they had not been detected loading the cargo in Venezuela. Asian refiners, and Chinese refiners specifically, have a taste for Venezuelan oil, which is heavy and sour, and their refineries are equipped for processing such grades. But now there is also a jump in demand for […]