Petróleos de Venezuela (PDVSA) and National Iranian Oil Company (NIOC) struck the deal that is set to last for six months but could be extended longer, one person told the outlet.  In the deal, PDVSA would receive condensate to dilute its oil and NIOC will get shipments of oil to sell to Asia, the people said. The Treasury Department told Reuters in an email that the trade could violate U.S. sanctions on both countries.  BY Lexi Lonas. Full Text ->The Hill

Traducción de cortesía -> Petróleos de Venezuela (PDVSA) y la Compañía Nacional de Petróleo de Irán (NIOC) llegaron a un acuerdo que durará seis meses, pero que podría extenderse más, dijo una persona al medio. En el acuerdo, PDVSA recibiría condensado para diluir su petróleo y NIOC obtendrá envíos de petróleo para vender a Asia, dijeron las personas. El Departamento del Tesoro dijo a Reuters en un correo electrónico que el comercio podría violar las sanciones de Estados Unidos a ambos países.

Maduro on Sunday proposed an “oil-for-vaccines” deal, without providing details on how such a scheme would work. The crisis-stricken OPEC nation’s crude exports have plummeted since the United States sanctioned state oil company Petroleos de Venezuela in January 2019. By Luc Cohen. Full Text ->ReginaLeader-Post

China has sharply increased its imports of oil from Iran and Venezuela in a challenge to two Biden administration foreign-policy priorities, according to U.S. officials, undermining key diplomatic leverage Washington needs to restart long-stalled negotiations. By Benoit Faucon and Ian Talley. Full Text-> TheWalStreetJournal

State-owned Qatar Petroleum has formally joined Guyana’s highly prospective offshore oil projects with the government’s approval of its farm-in to two blocks, natural resources minister Vickram Bharrat tells Argus. By Canute James. Full Text-> ArgusMedia

The three floating thermal generating units are berthed in the northern port of Mariel, 40km (24.8mi) west of Havana, and are using heavy fuel oil to supply state-owned utility UNE. By Canute James and Patricia Garip. Full Text -> ArgusMedia

Venezuela sits atop the largest proven oil reserves in the world, clocking in at a whopping 300 billion barrels. But years of domestic economic mismanagement, corrupt international banking, and strict international sanctions have brought the Venezuelan economy–and oil industry–to its knees. By Haley Zaremba. Full Text -> OilPrices

The regime is worried about FAES and how its behavior looks to the ICC; The basket of basic food items is 283.63 dollars, way, way beyond minimum wage; All indexes are pointing to a terrible 2021. By Naky Soto. Full Text -> CaracasChronicles

Democratic U.S. presidential hopeful Joe Biden’s promised return to diplomacy with OPEC-members Iran and Venezuela could cut a path for a return of their oil exports should he win, but not before many months at least of verifications, talks and deal-making. By Timothy Gardner, Marianna Parraga, Bozorgmehr Sharafedin. Full Text -> Reuters

In Venezuela, Biden appears likely to continue to favor sanctions to pressure the regime of President Nicolas Maduro, but could increase diplomatic efforts to end the impasse by negotiating a new election or power-sharing with the opposition. Biden’s campaign has not detailed how it would approach these issues. Full Text -> Reuters

Caribbean islands that once formed the bustling near-shore oil refining and logistical network of Venezuela’s state-owned PdV are finding that the distressed company was easier to evict than to replace. Full Text->ArgusMedia