A fleet comprising at least 11 oil tankers chartered by Chevron Corp. is en route to Venezuela, solidifying the American oil giant's status as the primary, and nearly sole, authorized exporter of Venezuelan crude following the recent capture of Nicolás Maduro by U.S. forces.
According to preliminary data collected by Bloomberg, these vessels are expected to dock in the coming days at the ports of José and Bajo Grande in the country's northwest. This movement signifies an uptick in oil-related activities compared to December, when nine ships were reported to be operating under similar arrangements.
The volume scheduled for January approaches the highest levels seen in recent months. For instance, in October, 12 tankers arrived, marking the highest number since Chevron resumed expanded operations in the South American nation under a special license.
Based in Houston, Chevron operates in Venezuela under a license from the U.S. Treasury Department, which allows it to produce and export oil despite Washington's sanctions against Venezuela's energy sector.
With Maduro's capture, the company has become the sole legal channel for exporting crude from Venezuela to international markets.
In a statement cited by Bloomberg and EFE, the company emphasized its ongoing commitment to employee safety and strict adherence to current regulations. “Chevron remains focused on the safety and well-being of our employees, as well as the integrity of our assets. We continue to operate in full compliance with relevant laws and regulations,” the company stated.
This deployment of tankers is occurring amidst a backdrop of political and economic reorganization in Venezuela, where the control of energy resources has become a pivotal issue following Maduro's detention and the onset of a still uncertain transition process.
The increase in exports managed by Chevron marks a significant shift in the flow of Venezuelan oil, historically overseen by PDVSA, and underscores the American company's role as a central player in the new phase of the country's energy sector.
Chevron's Role in Venezuelan Oil Exports
What is Chevron's current role in Venezuelan oil exports?
Chevron is currently the primary authorized exporter of Venezuelan crude, operating under a special license from the U.S. Treasury Department.
How has Chevron's activity changed in Venezuela recently?
Chevron has increased its activity with the deployment of 11 oil tankers to Venezuela, reflecting a significant boost in operations compared to previous months.
Why is Chevron the only authorized exporter of Venezuelan crude?
Following Nicolás Maduro's capture, Chevron became the sole legal channel for exporting Venezuelan crude due to its special license, amidst U.S. sanctions on Venezuela's energy sector.