First Tanker To Export Crude Oil To U.S. Under New License Docks In Venezuela

Chevron set to ship first Venezuelan crude to the United States in months, after one of its chartered vessels docked at the PDVSA-operated Jose terminal this week.

Data from LSEG on Tuesday showed the tanker in position to load under a new U.S. license granted to the company in July.

The fresh authorisation from the U.S. Treasury Department, issued late last month, gives Chevron the green light to operate once again in Venezuela despite sanctions that remain in place on the OPEC nation.

The license allows crude exports and swap operations with state-run PDVSA but continues to prohibit any funds from reaching the Venezuelan government.

Operations had been on hold since April, when Chevron stopped taking deliveries of Venezuelan oil ahead of its previous license expiring on May 27.

The Bahamas-registered Canopus Voyager arrived in Venezuelan waters last week. It is expected to take on a cargo of Hamaca heavy crude, which comes from a joint venture between Chevron and PDVSA.

At least five other vessels the company has used in the past to carry crude to the U.S. were either near or heading toward the country on Tuesday. Among them, the Mediterranean Voyager was waiting close to the Bajo Grande terminal in the west for clearance to load Boscan heavy crude.

Four others, Ionic Anax, Nave Cosmos, Nave Neutrino, and Sea Jaguar were showing positions near Aruba, a well-known hub for ship-to-ship transfers of Venezuelan oil.

Reference: Reuters

Source: Maritime Shipping News