Published by Global Banking & Finance Review®
Posted on January 10, 2026
1 min readLast updated: January 20, 2026
Vitol is set to load its first naphtha cargo to Venezuela this weekend, under a supply agreement, impacting the Venezuelan oil industry.
By Shariq Khan and Marianna Parraga
NEW YORK/HOUSTON, Jan 10 (Reuters) - Commodities trader Vitol is expected to load the first cargo of naphtha from the U.S. Gulf Coast to Venezuela this weekend under a supply agreement with the U.S. government, two sources familiar with the matter told Reuters on Saturday.
The trading firm has chartered the vessel Hellespont Protector to deliver the naphtha, used as a diluent to thin Venezuela's crude oil and make it easier to move and process, the sources said.
The sources requested anonymity to discuss confidential details. Vitol did not immediately respond to a request for comment.
(Reporting by Shariq Khan in New York and Marianna Parraga in Houston; editing by Diane Craft)
Naphtha is a flammable liquid hydrocarbon mixture used as a solvent and in the production of gasoline. It is also used as a diluent to thin crude oil for easier transport and processing.
A trading firm is a company that buys and sells financial instruments such as stocks, bonds, commodities, or currencies, often using various strategies to generate profit.
A diluent is a substance used to dilute or thin another substance, often used in the oil industry to reduce the viscosity of crude oil, making it easier to transport.
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