The US continues the import of Venezuelan oil under a new license to Chevron

Two tankers hired by Chevron carrying Venezuela’s crude oil reached US waters on Thursday, marking the first US import of South American State oil after a new license given by Washington, ship tracking data showed.

The US Department of Finance last month issued a limited license for Chevron which allowed US companies to operate in OPEC countries and exported its oil after a three -month break triggered by a tighter policy on approved Venezuela.

Mediterraneanvoyager and Canopus Voyager ships contain Venezuela Boscan and Hamaca Crudes earlier this month after negotiations with PDVSA, which are Chevron partners in several joint ventures, according to LSEG data and documents from state companies.

Tanker plans to get out in Port Arthur, Texas, and New Orleans, Louisiana. Two other Chevron cargoes sailed from Venezuela this month were also on their way to the United States.

Chief Executive Chevron Mike Wirth earlier this month said the flow of Venezuelan oil to the US would be continued in August in a limited volume.

Chevron has no access to Venezuela’s crude oil since April, when PDVSA canceled several cargo scheduled for the company due to payment problems related to sanctions.

Chevron, which in the first quarter exported around 252,000 barrels per day of Venezuelan oil to the US, usually processed some of the crude oil in its own refinery and sold the rest to independent refiners, including Valero US energy and PBF energy.

The Venezuelan government rejected US sanctions and said they were the number of economic wars against the nation.
Source: Reuters