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US government receives first Venezuelan oil from NABEP at 'no cost', official says

By Reuters News

Oct 27 (Reuters) - The US government on Tuesday received the first cargo of Venezuelan crude from a deal signed with producer NABEP in August, which will be sold to refineries operated by Exxon Mobil XOM.N and Venezuela-owned Citgo Petroleum, a White House official told Reuters.

The cargo was received by the US government at 'no cost', the person said.

Washington had previously said NABEP had granted the US Department of State the right to purchase, at production cost, a guaranteed 20% of the off-take from all current and future fields NABEP will operate.

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