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Orlen faces up to $424 million loss after $230 million USDT deal collapses

Verifying
  • Orlen lost hundreds of millions in a failed Venezuelan crude purchase involving Hannon International.
  • The company sent an uncollateralized $230 million advance for 6 million barrels.
  • PDVSA delivered one cargo worth $28.8 million before Orlen canceled the contract in March 2024.
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