Exxon Mobil, Citgo Petroleum Acquires Shipload of Venezuelan Crude Oil to Refine

05:15 AM EDT, 10/28/2026 (MT Newswires) -- Exxon Mobil (XOM) and Venezuelan-owned Citgo Petroleum have acquired the first shipload of Venezuelan crude oil to distill in their refineries under a deal between the US and North American Blue Energy Partners, NABEP said Tuesday. "Two tankers carrying 1 million barrels of Venezuelan crude produced by North American Blue Energy Partners have arrived in Corpus Christi, Texas," NABEP said. "To recognize the historic nature of the agreement between NABEP and its new anchor buyer, the US government, NABEP delivered the first million barrels of oil at no cost to the US taxpayer." The cargo was part of a larger deal with the US Departments of State and Defense that grants the US government the right to purchase 20% of NABEP's production at cost, NABEP said. "This first shipment since the US-NABEP deal will be followed by thousands of such arrivals," NABEP Chief Executive Alejandro Betancourt said in the statement.