Bingo. And Venezuelan oil is difficult to sell even to other South American markets, since we don’t know how many refineries in South America can process the high-sulfur/high-viscosity oil from this country. Worst of all, Chavez and Maduro drove out all the best petroleum engineers from the country, so Venezuela’s oil production infrastructure is falling apart, too.
That’s Venezuela’s cash problem coming into focus, they have to buy light oil and couple that with their heavy crap to make it financially attractive.
They stole CITGO from the US Owners anyway so it is truly a just reward. ConocoPhillips still has first dibs on the CITGO carcass.