PDVSA is offering 5.8 million barrels of crude oil and diluted spot crude because of US sanctions, according to sources and PDVSA tenders. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Traditional customers of Venezuelan crude grades, such as Merey 16, Boscan, Bachaquero and diluted crude oil, did not submit bids for nine shipments scheduled between March and June. “Lukoil Panamericas LLC did not submit bids for three oil shipments of 400,000 each [of] Boscan. Lukoil also did not submit offers for another three shipments of 400,000 barrels each of Bachaquero crude,” said a market source close to the negotiations. “Due to the fact that Lukoil did not make any offer for the Boscan and Bachaquero crude, the rejection of the price negotiation for the April-June 2019 period by Lukoil is recorded,” the source added. Lukoil’s rejection leaves PDVSA free to look […]