(BOE Report) – Two tankers chartered by Chevron carrying Venezuelan crude reached U.S. waters on Thursday, marking the first U.S. imports of the South American country’s oil following a new license granted by Washington, vessel tracking data showed.
The U.S. Treasury Department last month issued a restricted license to Chevron allowing the U.S. company to operate in the OPEC country and export its oil after a three-month pause triggered by more strict policies towards sanctioned Venezuela.
The vessels MediterraneanVoyager and Canopus Voyager loaded Venezuelan Boscan and Hamaca crudes earlier this month after negotiations with PDVSA, which is Chevron’s partner in several joint ventures, according to LSEG data and documents from the state company.
The tankers plan to discharge at Port Arthur, Texas, and New Orleans, Louisiana. Two other Chevron cargoes that set sail from Venezuela this month are also on their way to the United States.
Chevron’s chief executive Mike Wirth earlier this month said the flow of Venezuelan oil to the U.S. would resume in August in limited volumes.
Chevron had not had access to Venezuelan crude since April, when PDVSA canceled a handful of cargoes it had scheduled for the company due to payment problems related to the sanctions.
Chevron, which in the first quarter exported some 252,000 barrels per day of Venezuelan oil to the U.S., typically processes a portion of the crude at its own refineries and sells the rest to independent refiners, including U.S. Valero Energy and PBF Energy.
Venezuela’s government rejects the U.S. sanctions and has said they amount to an economic war against the nation.
(Reporting by Marianna Parraga; Editing by Joe Bavier)
