Chevron Tankers Redirected as Venezuela Oil Sanctions Impact Cargo Transport

Some tankers that Chevron had chartered to transport crude oil from Venezuela to the United States are now being offered for spot contracts elsewhere due to uncertainties related to sanctions. The state company PDVSA canceled loading permits and ordered Chevron to return cargoes, prompting the firm to market the vessels for alternative contracts. This move suggests that Chevron does not anticipate loading all the cargoes it typically ships from Venezuela in a month, even if the disagreement with PDVSA is resolved.

Chevron-chartered tankers, such as the Sea Dragon and Andromeda, which recently discharged Venezuelan crude in the U.S., are now being marketed by third-party services. Additionally, at least six more tankers chartered by Chevron to transport Venezuelan crude to the U.S. in the coming weeks are currently stalled in the Caribbean Sea. PDVSA’s actions to cancel loading permits and order the return of cargoes have disrupted Chevron’s operations and forced the company to seek alternative solutions.

Some Chevron-chartered tankers, like the Dubai Attraction and Carina Voyager, have faced delays in returning their cargoes to PDVSA due to customs paperwork and logistical challenges. Meanwhile, other tankers chartered by trading houses like Vitol continue to load and discharge normally at Venezuelan ports. The situation highlights the complexities and uncertainties faced by companies operating in the Venezuelan oil market, especially amid ongoing sanctions and geopolitical tensions. PDVSA and Chevron have not provided any comments on the situation.

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