Finance

Chevron-chartered tanker docks at Venezuela to load oil after new US license

Published by Global Banking & Finance Review

Posted on August 12, 2025

2 min read

· Last updated: January 22, 2026

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Chevron-chartered tanker docks at Venezuela to load oil after new US license
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By Marianna Parraga and Arathy Somasekhar HOUSTON (Reuters) -A Chevron-chartered tanker docked at Venezuelan state company PDVSA's Jose terminal on Tuesday, positioning it to be the first to export

Chevron Tanker Docks in Venezuela to Load Oil for U.S. Export

Chevron's Oil Export Operations

By Marianna Parraga and Arathy Somasekhar

Details of the New License

HOUSTON (Reuters) -A Chevron-chartered tanker docked at Venezuelan state company PDVSA's Jose terminal on Tuesday, positioning it to be the first to export crude to the United States under a new license Chevron received in July, LSEG tracking data showed.

Tanker Arrivals and Operations

The U.S. Treasury Department late last month authorized Chevron to operate in the sanctioned OPEC nation again, export its oil and do swaps with PDVSA through a restricted license banning any payments to Venezuela's government.

Chevron's Compliance with Sanctions

Chevron suspended loading of Venezuelan crude in April ahead of its prior license's expiration on May 27.

The Bahamas-flagged tanker Canopus Voyager arrived in Venezuelan waters last week and will load Hamaca heavy crude, which is produced by a joint venture between Chevron and PDVSA.

At least five other vessels that Chevron had used to transport Venezuelan crude to the U.S. were near or navigating toward the South American country's waters on Tuesday, the LSEG data showed.

Vessel MediterraneanVoyager was near the Bajo Grande port in Venezuela's western region waiting for authorization to load Boscan heavy crude, while Nave Cosmos, Sea Jaguar, Ionic Anax and Nave Neutrino signaled Aruba, a popular location for ship-to-ship transfers of Venezuelan crude, the LSEG data showed.

Chevron did not reply to questions about the tankers, instead saying that it conducts business in compliance with laws, and sanctions frameworks.

PDVSA did not immediately reply to a request for comment.

(Reporting by Arathy Somasekhar and Marianna Parraga in Houston; Editing by Chris Reese and Cynthia Osterman)

Key Takeaways

  • Chevron resumes oil exports from Venezuela under a new US license.
  • A Chevron-chartered tanker docks at PDVSA's Jose terminal.
  • The US Treasury Department authorized Chevron's operations in Venezuela.
  • Chevron complies with sanctions, avoiding payments to Venezuela's government.
  • Multiple tankers are positioned for Venezuelan crude transport.

Frequently Asked Questions

What is a tanker?
A tanker is a large ship designed to transport liquids, such as oil or chemicals, across oceans and seas.
What is compliance in finance?
Compliance in finance refers to adhering to laws, regulations, and guidelines set by governing bodies to ensure ethical and legal operations.
What is an oil export?
An oil export is the sale and shipment of crude oil from one country to another, often regulated by international trade agreements.
What is a license in finance?
A license in finance is a legal authorization granted by a regulatory body that allows a company to conduct specific financial activities.
What is a joint venture?
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project while maintaining their separate identities.

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