Venezuelan state-run oil firm PDVSA this week will resume exports of diluted crude oil (DCO) for the first time in nine months, according to a document seen by Reuters.

By analyzing satellite images, vessel monitoring service TankerTrackers.com said the supertanker undocked on Sunday at PDVSA’s Jose port after finishing loading. It was waiting on Monday for authorization to set sail.

PDVSA did not reply to a request for comment.

The last time PDVSA had shipped DCO was in April, when it sent two cargoes to Asia, according to Refinitiv Eikon data and PDVSA schedules.

Compared to Merey 16 crude, DCO is often sold at deep discounts due to its high content of water and sediments. Refiners from Europe and Asia often prefer to buy Merey 16 or any of PDVSA’s upgraded crudes over DCO.

But the move to export DCO could ease production, storage and transportation bottlenecks of other crudes from the Orinoco Belt, according to company documents.

Shipping DCO to Asia also could allow the resumption of the Venezuela-Iran swap, which was mostly fulfilled in the second half of last year before deliveries were paused in December.
Source: Reuters (Reporting by Marianna Parraga in Houston; Editing by Paul Simao)