Tankers that Chevron chartered to transport crude oil from Venezuela to the United States are now being offered for spot contracts elsewhere. This shift comes after Venezuela’s state oil company, PDVSA, canceled loading permits and required the return of cargoes due to uncertainties regarding payments and potential sanctions.
The decision to market these vessels suggests that Chevron does not anticipate loading all its usual cargoes from Venezuela in the near future, even if a resolution with PDVSA is eventually reached. One tanker, the Sea Dragon, which had recently delivered Venezuela’s Boscan heavy crude in Philadelphia, is being marketed by Agelef Maritime Services.
Another vessel, the Andromeda, which discharged Venezuelan Hamaca crude at Port Arthur earlier in the month, is also being actively marketed. Additionally, at least six more tankers that Chevron had chartered to transport Venezuelan crude in the coming weeks are presently stalled in the Caribbean Sea, awaiting further instructions.
These delays follow PDVSA’s recent orders to return two cargoes and the cancellation of loading permits, effectively truncating the operational timeline. As of midweek, the Chevron-chartered tanker Dubai Attraction, which loaded around 300,000 barrels of Venezuelan Boscan crude in early April, was still pending customs paperwork to return its cargo.
Meanwhile, the Carina Voyager, managed by a Chevron subsidiary, has returned to Aruba after delivering its 500,000-barrel cargo back to PDVSA. Another vessel, Sea Jaguar, had its loading window at Venezuela’s Jose terminal canceled by PDVSA, leaving it idle off Aruba’s coast.
In contrast, other tankers chartered by trading house Vitol continue to operate normally at Venezuelan ports. Vessels chartered by Reliance Industries for India and Maurel & Prom for Europe also departed on schedule, well before the looming May 27 deadline for winding down operations.