Background on Chevron and its Operations in Venezuela
Chevron, the sole U.S. company operating in Venezuela, has been regularly shipping crude oil to the United States. Recently, three of Chevron’s vessels have set sail for the U.S., carrying Venezuelan oil, according to an AFP analysis based on maritime tracking data.
Current Situation of Venezuelan Oil Exports
Two additional tankers contracted by Chevron were anchored at the Bajo Grande refinery port in western Venezuela on Thursday, while six other vessels were en route to the South American country, as per data provided by Bloomberg.
Impact of U.S. Sanctions on Venezuelan Oil Exports
The U.S. naval blockade imposed on sanctioned tankers linked to Venezuela has caused a buildup of oil in the country’s storage tanks, according to analysts from the Kpler platform. However, this blockade does not affect Chevron’s contracted vessels.
Tracking the Vessels
One of the contracted tankers, the “Ionic Anassa,” was spotted navigating near Cuba, heading towards Pascagoula port in Mississippi after loading in Bajo Grande on January 4, as per Bloomberg.
“Nave Photon” was located north of Caracas on Thursday, following its arrival at the José terminal in eastern Venezuela on January 5. It was being closely monitored by “Mediterranean Voyager,” both expected to arrive at Freeport, Texas.
Two more tankers, “Minerva Gloria” and “Searuby,” were at Bajo Grande on Thursday. Six additional vessels, seemingly empty, were heading towards Venezuela.
Oil Reserves in Venezuela
According to the latest Kpler estimate, based on radar images from December 30, Venezuela’s land-based crude oil reserves exceed 22 million barrels, nearly half of the country’s storage capacity.
Floating storage volumes are also increasing. Based on a Kpler satellite analysis, over 16 million barrels of sanctioned crude were stored Thursday aboard tankers used as temporary depots.
Chevron’s Response
When contacted, Chevron declined to comment on its operations.
Key Questions and Answers
- Who is Chevron? Chevron is the only U.S. company operating in Venezuela, regularly shipping crude oil to the United States.
- Why are these tankers significant? These tankers are carrying Venezuelan oil to the U.S. amidst U.S. sanctions on Venezuelan oil exports.
- How are U.S. sanctions affecting oil exports? The naval blockade imposed by the U.S. on sanctioned tankers linked to Venezuela has caused a buildup of oil in Venezuela’s storage tanks. However, it does not affect Chevron’s contracted vessels.
- What is the current status of Venezuela’s oil reserves? According to Kpler, Venezuela’s land-based crude oil reserves exceed 22 million barrels, and floating storage volumes are increasing with over 16 million barrels of sanctioned crude stored aboard tankers.
- What is Chevron’s stance on these operations? Chevron declined to comment on its operations regarding these tankers.
