PDVSA is offloading more than a half a million barrels per day of condensate that it has imported in order to blend with its extra heavy crude oil, according to PDVSA documents that Reuters has seen. The condensate—which Venezuela needs in order to move its heavy crude oil—arrived on Wednesday. But importing condensate and exporting the resulting upgraded crude oil are currently sanctionable actions by the United States. Panamanian-flagged Rene is the vessel that brought the condensate cargo in, operated by shipping firm Issa Shipping Fze—based in Fujairah. Shipping documents show the condensate originated in Sri Lanka. Sri Lanka does not produce condensate. Those shipping documents also show that the Rene is scheduled to be loaded with PDVSA-derived heavy crude for exporting. Issa Shipping, based in close U.S. ally UAE, is responsible for exporting or planning to export other PDVSA crude oil cargos as well, putting the UAE at […]