Chevron has resumed shipping Venezuelan crude to the U.S. Gulf Coast after a four-day pause caused by political turmoil following the capture of Venezuelan President Nicolás Maduro, according to shipping data.
What to Know
An oil tanker chartered by Chevron carrying approximately 300,000 barrels of Venezuelan heavy crude departed on Monday from the OPEC nation’s waters. The pause in exports occurred amid U.S. strikes in Venezuela between Friday and Saturday and the resulting political uncertainty.
Chevron is currently the only American oil company authorized by Washington to export Venezuelan crude under the ongoing U.S. embargo, which President Donald Trump stated remains in full force following Maduro’s capture.
Trump’s Comments
During a gaggle aboard Air Force One, Trump said, “This isn’t a country that’s on the other side of the world… We’re in the business of having countries around us that are viable and successful, and where the oil is allowed to freely come out… It gets the prices down. That’s good for OUR country.”
Following the operation in Venezuela, Trump also that the United States would be “selling large amounts of oil to other countries” while overseeing Venezuela until a proper political transition is arranged.
Market Reaction
Shares of Chevron ($CVX) rose following Trump’s announcement that the U.S. plans to revive Venezuela’s energy sector after Maduro’s capture, according to Yahoo Finance on X. Chevron remains the only American oil major operating in Venezuela under special U.S. permission.
Regional Context
Shipping data and analysis from TankerTracking.com show that in early January, about a dozen tankers carrying Venezuelan oil and fuel departed with their transponders off, appearing to defy the U.S. naval blockade. Chevron’s resumption of exports comes amid this broader movement in Venezuela’s energy sector.
