China’s state oil and chemicals giant Sinochem has bought a rare cargo of Venezuelan crude, trade sources told Reuters on Tuesday, as Chinese state-owned firms look to acquire cheaper crudes without fear of secondary sanctions now that the U.S. has eased the restrictions on Venezuela. The temporary U.S. sanctions relief from October 2023 to April 2024 now allows the production, lifting, sale, and exportation of oil or gas from Venezuela, and the provision of related goods and services, as well as payment of invoices for goods or services…
