October 3, 2019 / 4:57 PM / 2 months ago

Venezuela's PDVSA, China's CNPC halt oil blending over high stocks -sources

Oct 3 (Reuters) - Venezuela’s state-run PDVSA and China National Petroleum Corp. (CNPC) have halted oil blending at their joint venture, Petrosinovensa, due to accumulation of oil stocks following U.S. sanctions on the OPEC-member nation, four sources with knowledge of the decision said.

Petrosinovensa was the only project blending oil in Venezuela after another joint venture, Petropiar, halted operations earlier this year due to the same reason. PDVSA and CNPC also suspended work for expanding Petrosinovensa, two of the sources added. (Reporting by Marianna Parraga in Mexico City and Mircely Guanipa in Punto Fijo, Venezuela)

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