Freepoint, Citgo Set Sights on Venezuelan Oil as Sanctions Ease

Freepoint Commodities and US refiner Citgo Petroleum are seeking direct access to Venezuelan oil cargoes as US sanctions on the South American nation ease.

Commodities trader Freepoint is considering applying for a US Treasury license to buy Venezuelan fuel oil, people familiar with the matter said. Citgo plans to use an already-issued general license to buy crude oil, according to a person who asked not to be identified discussing confidential information.

A Freepoint representative declined to comment for this story. Citgo didn’t immediately respond to an inquiry.

Freepoint and Citgo are joining a flurry of companies expressing interested in going ...