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 readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 12, 2025
2 min readLast updated: January 22, 2026
Chevron resumes Venezuelan oil exports under a new US license, with a tanker docking at PDVSA's Jose terminal for crude loading.
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 crude to the United States under a new license Chevron received in July, LSEG tracking data showed.
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 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)
A tanker is a large ship designed to transport liquids, such as oil or chemicals, across oceans and seas.
Compliance in finance refers to adhering to laws, regulations, and guidelines set by governing bodies to ensure ethical and legal operations.
An oil export is the sale and shipment of crude oil from one country to another, often regulated by international trade agreements.
A license in finance is a legal authorization granted by a regulatory body that allows a company to conduct specific financial activities.
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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