Chevron’s Oil Cargoes Remain Stalled At Sea After Venezuela Cancels Export Approvals

Two oil tankers carrying Venezuelan crude for US oil giant Chevron have been forced to remain idle in Venezuelan waters after the country’s state oil company, PDVSA, suddenly canceled their export permissions, according to three sources familiar with the matter.

The cancellations happened after the US government imposed secondary sanctions on buyers of Venezuelan oil. These new penalties have disrupted crude shipments and affected the joint operations between Chevron and PDVSA.

The two tankers, Dubai Attraction and Carina Voyager, had already finished loading their cargoes when PDVSA withdrew their sailing authorisations last Thursday.

Chevron is now waiting for Venezuelan customs officials to process paperwork so the loaded vessels can return to port.

The oil cargoes had already been declared to the customs authority for export, so Chevron must now obtain official clearance for their return, as per PDVSA’s updated orders, according to the sources.

Chevron was allowed to operate in Venezuela under a special license granted by the US Treasury Department in March 2025.

This license lets the company export Venezuelan crude to the US until late May. However, the recent actions by PDVSA could force Chevron to cut back operations earlier than expected.

Shipping data and sources reveal that the Carina Voyager was headed to Chevron’s refinery in Pascagoula, Mississippi, while Dubai Attraction was set to offload its cargo onto a vessel chartered by Valero Energy near Aruba.

PDVSA also suspended loading permits for four more tankers: Pegasus Star, Ionic Anax, Calypso and Sea Jaguar. These ships were expected to load crude later this month, but their planned schedules have been disrupted.

So far, none of the involved companies-Chevron, PDVSA, or Valero, have responded to requests for comment on the situation. It’s also unclear whether PDVSA will allow the cargoes to be rescheduled or if the shipments will be canceled entirely.

Chevron’s joint ventures with PDVSA currently account for roughly 25% of Venezuela’s total oil production.

In the first quarter of 2025 alone, the company exported approximately 250,000 barrels per day of Venezuelan crude to the US under its existing license, which was originally issued back in 2022.

Reference: Reuters

Source: Maritime Shipping News