Venezuelan Petrochemicals Arrive in U.S. Despite Washington Trade Curbs

The shipments represent an unreported effort by Venezuela to boost revenues despite U.S. sanctions on its oil industry.

Marianna Parraga and Deisy Buitrago, Reuters

Venezuelan petrochemicals produced by joint ventures between state-run chemical firm Pequiven and foreign partners have arrived in the United States, despite Washington's efforts to limit trade with the OPEC oil and gas producer.

At least two cargoes of methanol, a widely used industrial product whose prices have soared this year, have discharged at Houston area ports since October amid a rapid expansion of the South American country's global sales of petrochemicals and oil byproducts, according to tanker tracking and U.S. customs data.

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