Eni Ships Venezuelan Crude to Europe After Two-Year Gap

Oil and gas producer Eni this week finished loading a 1-million-barrel cargo of Venezuelan heavy crude bound for Spain, the first the Italian company receives in almost two years following the issuance of U.S. licenses freeing exports.

Trading houses including Trafigura and Vitol have been handling the lion's share of Venezuela's oil exports since Caracas and Washington in January agreed to a flagship supply deal, but partners of state company PDVSA, including ENI, can now also export to different destinations under the licenses.

The Marshall Islands-flagged tanker Front Cruiser was setting sail on Tuesday from Venezuela's Jose terminal signaling the Cartagena port in Spain as its destination.

Eni did not immediately reply to a request for comment.

(Reuters - Reporting by Marianna Parraga; Editing by Arathy Somasekhar)