PetroChina Buys Venezuelan Crude for New Mega Refinery

PetroChina is welcoming this weekend a cargo of Venezuela’s Merey crude for use at a new huge refinery after the U.S. eased sanctions on Venezuelan oil exports a few months ago. A cargo of Merey is due to arrive in China for the state Chinese energy giant on Saturday, according to Bloomberg’s ship-tracking data and sources.   Merey is currently being offered at a discount of around $10 per barrel to Brent, trade sources told Bloomberg. PetroChina will use the Venezuelan heavy crude at its newly commissioned Guangdong…