Bloomberg News reports that oil magnate Sargeant's firm loaded 1 million barrels of oil for China.

North?American Blue Energy is a company that has been backed by the United States. Harry Sargeant III is a renowned energy magnate who has made a decision to export?1,000,000 barrels of?Venezuelan oil for delivery into China. Bloomberg News reported this on Monday, citing an official document.

Reports?stated that this may be the first shipment of Venezuelan oil delivered to Asia since the US took control of the nation's oil exports earlier this year.

U.S. president Donald Trump is taking steps to relax sanctions against Venezuela after the arrest of Nicolas Maduro. He has also urged U.S. firms to revive its oil industry.

In an earlier report, it was reported that Sergeant and his team were advising the Trump Administration on how to engineer the return of American oil companies from Venezuela.

The report said that North American Blue Energy is loading its oil onto the tanker Skage. It is expected to deliver 950,000 barrels Merey 16, one of Venezuela's primary crude grades to the port in Qingdao.

Sargeant's Venezuelan businesses buy and sell asphalt that can be produced from the heavy crude oil produced in the South American nation. He has also invested heavily in the production of a number of?oilfields.

Sargeant and the company could not be reached for comment. Reporting by Kanjyik Srivastava and Vallari Shrivastava from Barcelona; Editing by Franklin Paul

(source: Reuters)