Venezuela Oil Exports to Asia Stall as U.S. Embargo Pressures PDVSA Operations

Venezuela’s main oil ports have gone five consecutive days without shipping crude to Asian customers, according to shipping data, as U.S. sanctions tighten pressure on state-run PDVSA, while Chevron ($CVX) has resumed limited exports to the United States.

• Shipping data shows no Venezuelan crude deliveries to Asia for five days, affecting the country’s largest export market.
• Chevron ($CVX) resumed U.S.-bound exports after a four-day pause and reopened its Venezuela offices as flights restarted.
• At least a dozen sanctioned vessels departed Venezuelan waters in early January carrying about 12 million barrels to China.
• The tankers sailed with transponders off, bypassing a U.S. tanker blockade imposed last month.
• PDVSA faces growing inventories and may deepen production cuts amid export disruptions.

Relevant Companies

• Chevron ($CVX) — The company is currently the primary channel for Venezuelan crude exports to the U.S., making its operations directly affected by changes in sanctions and export access.

Editor’s Note: This is a developing story. This article may be updated as more details become available.

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