Chevron to Make First Shipment of Venezuelan Crude in January

U.S. oil major Chevron is planning to make first shipment of Venezuelan crude oil this month to its Mississippi refinery following a U.S. government license granted last year. The 500,000 barrel cargo of heavy crude will be loaded from the Jose Port, which is operated by Venezuela’s state-owned oil company PDVSA. The tanker scheduled to carry the cargo is waiting to load near the Jose Port.

Another Chevron-chartered vessel has also arrived on Tuesday in Venezuelan waters, carrying around 500,000 barrels of heavy naphtha that will be used as crude upgrader.

The U.S. Department of Treasury had granted a six month license to Chevron to reanimate and expand operations in Venezuela to encourage talks between the Maduro government and the country’s political opposition towards a presidential election this year.

Washington had previously authorized Italy’s Eni and Spain’s Repsol to recoup pending debts in Venezuela by taking Venezuelan crude for refining in Europe.

The authorized shipments are set to slightly boost Venezuela’s crude exports, which last year remained almost unchanged compared with 2021.

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