Latest news with #DubaiAttraction
Yahoo
01-05-2025
- Business
- Yahoo
Last Chevron-chartered vessel starts to return oil cargo in Venezuela, data and source say
HOUSTON (Reuters) -A vessel chartered by Chevron carrying some 300,000 barrels of Venezuelan oil was set to start discharging at a Venezuelan port on Thursday, according to shipping data and a source. It would be the last tanker to return its cargo following state company PDVSA's order to return the crude amid payment uncertainty related to U.S. sanctions. The Marshall Islands-flagged vessel, Dubai Attraction, on Thursday entered a berth in Amuay terminal, Venezuela, to start discharging the cargo it originally intended to export, LSEG shipping data showed. Chevron and PDVSA did not immediately reply to requests for comment. Venezuela's Vice President Delcy Rodriguez, who is also the OPEC country's oil minister, has blamed the U.S. measures for the issue, saying they prevented Chevron from paying for the oil. Venezuela's oil exports fell almost 20% in April to 700,000 barrels per day, the lowest in nine months, due to the cargo cancellations. Chevron's exports of Venezuelan crude to the U.S. plummeted 69% to some 66,000 bpd due to PDVSA's measures. Some tankers Chevron had chartered to move crude from Venezuela to the U.S. were marketed for spot contracts elsewhere, sources said last week. This signaled that Chevron does not expect to load all the cargoes it typically ships from Venezuela even if it eventually finds a way to resolve the disagreement with PDVSA. In March, President Donald Trump's administration revoked a license issued in 2022 by the U.S. Treasury Department for Chevron to operate in Venezuela. The May deadline was granted to wind down operations and oil exports. The same deadline was granted to other partners of PDVSA, including Eni, Repsol, Maurel & Prom and Reliance Industries, to wind down oil cargoes bound for Europe and Asia. Tankers chartered by trading house Vitol were loading and discharging normally at Venezuelan ports, according to the data and documents, while vessels chartered by Reliance Industries for India delivery and Maurel & Prom for Europe departed on schedule last week, ahead of the May 27 deadline to wind down cargoes and operations.
Reuters
01-05-2025
- Business
- Reuters
Last Chevron-chartered vessel starts to return oil cargo in Venezuela, data and source say
HOUSTON, May 1 (Reuters) - A vessel chartered by Chevron (CVX.N), opens new tab carrying some 300,000 barrels of Venezuelan oil was set to start discharging at a Venezuelan port on Thursday, according to shipping data and a source. It would be the last tanker to return its cargo following state company PDVSA's order to return the crude amid payment uncertainty related to U.S. sanctions. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The Marshall Islands-flagged vessel, Dubai Attraction, on Thursday entered a berth in Amuay terminal, Venezuela, to start discharging the cargo it originally intended to export, LSEG shipping data showed. Chevron and PDVSA did not immediately reply to requests for comment. Venezuela's Vice President Delcy Rodriguez, who is also the OPEC country's oil minister, has blamed the U.S. measures for the issue, saying they prevented Chevron from paying for the oil. Venezuela's oil exports fell almost 20% in April to 700,000 barrels per day, the lowest in nine months, due to the cargo cancellations. Chevron's exports of Venezuelan crude to the U.S. plummeted 69% to some 66,000 bpd due to PDVSA's measures. Some tankers Chevron had chartered to move crude from Venezuela to the U.S. were marketed for spot contracts elsewhere, sources said last week. This signaled that Chevron does not expect to load all the cargoes it typically ships from Venezuela even if it eventually finds a way to resolve the disagreement with PDVSA. In March, President Donald Trump's administration revoked a license issued in 2022 by the U.S. Treasury Department for Chevron to operate in Venezuela. The May deadline was granted to wind down operations and oil exports. The same deadline was granted to other partners of PDVSA, including Eni ( opens new tab, Repsol ( opens new tab, Maurel & Prom ( opens new tab and Reliance Industries ( opens new tab, to wind down oil cargoes bound for Europe and Asia. Tankers chartered by trading house Vitol ( were loading and discharging normally at Venezuelan ports, according to the data and documents, while vessels chartered by Reliance Industries for India delivery and Maurel & Prom for Europe departed on schedule last week, ahead of the May 27 deadline to wind down cargoes and operations.
Reuters
14-04-2025
- Business
- Reuters
Chevron-chartered vessel to complete oil cargo return in Venezuela, data and source say
HOUSTON, April 14 (Reuters) - A vessel chartered by Chevron (CVX.N), opens new tab carrying some 500,000 barrels of Venezuelan oil is about to complete the discharge of the cargo at a Venezuelan port, according to shipping data and a source, following state company PDVSA's order to return the crude amid payment uncertainty related to U.S. sanctions. At least nine tankers Chevron had chartered to carry Venezuelan crude to the U.S. in coming weeks as part of the wind down of its U.S. license through May 27 are now stalled in the Caribbean Sea waiting for directions after PDVSA last week ordered two cargoes to be returned and canceled loading permits to others, cutting the deadline short. The Bahamas-flagged vessel, Carina Voyager, managed by a Chevron unit, on Saturday began discharging at PDVSA's Jose port the cargo it originally intended to export, LSEG shipping data showed. The tanker is scheduled to finish the oil return on Monday, a source close to PDVSA's operations said, adding that a second cargo to be returned by Chevron, on Marshall Islands-flagged tanker Dubai Attraction, will discharge some 300,000 barrels of Boscan heavy crude at PDVSA's Amuay terminal in coming days after the U.S. company completes a port inspection. Venezuela's Vice President Delcy Rodriguez, who is also the OPEC country's oil minister, on Friday blamed the U.S. measures for the issue, saying they prevented Chevron from paying for the oil. "Because of the economic war initiated by the U.S. government against oil companies, Chevron has returned cargoes of crude to PDVSA," Rodriguez said on social media. "This crude is being sold on international markets." Chevron did not immediately reply to a request for comment. A license issued in 2022 by the U.S. Treasury Department for Chevron to operate in Venezuela was revoked in March by President Donald Trump's administration, granting the May deadline to wind down operations and oil exports. The same deadline was granted to other partners of PDVSA, including Eni ( opens new tab, Repsol ( opens new tab, Maurel & Prom ( opens new tab and Reliance Industries ( opens new tab, to wind down oil cargoes bound for Europe and Asia.
Shafaq News
12-04-2025
- Business
- Shafaq News
Chevron's Venezuelan oil cargoes canceled, stalled amid payment uncertainty
Shafaq News/ At least two vessels carrying Venezuelan crude chartered by Chevron (CVX.N), are stalled due to state oil company PDVSA canceling their export authorizations, according to shipping data and sources, as the government had no certainty of payment amid the hardening of U.S. sanctions on the OPEC-member country. An individual license issued in 2022 by the United States for Chevron to operate in Venezuela was revoked in March by U.S. President Donald Trump's administration with a wind-down period granted until May 27. But PDVSA's orders are now cutting the deadline short. The U.S. oil producer awaits customs paperwork to return the cargoes to ports after PDVSA on Thursday canceled set-sail authorizations to two of the Chevron-chartered vessels that had finished loading. The Venezuelan company also suspended loading permits to four other Chevron tankers, which began to sail away empty on Friday, according to the sources and LSEG shipping data, adding uncertainty to the U.S. company's exports from Venezuela. The Venezuelan government blamed the U.S. measures for the issue, saying they prevented Chevron from paying for the oil. "Because of the economic war initiated by the U.S. government against oil companies, Chevron has returned cargoes of crude to PDVSA," Vice President Delcy Rodriguez posted on Telegram. "This crude is being sold on international markets. As of Friday, the Chevron-chartered vessels Dubai Attraction and Carina Voyager remained loaded in Venezuelan waters waiting for paperwork for the cargoes' return, according to the sources and shipping data. The cargoes had been declared as exports to Venezuela's customs authority, so Chevron must now obtain authorization for their return. PDVSA is requesting the cargoes be returned in coming days at ports including Amuay, the sources said. Carina Voyager was bound for Chevron's Pascagoula refinery in Mississippi, while Dubai Attraction was scheduled to transfer its cargo to the Valero Energy-chartered (VLO.N), opens new tab tanker Cap Corpus Christi off Aruba, according to the data and sources. The Cap Corpus Christi departed partially loaded on Friday to the United States as it could not complete its load via ship-to-ship, the LSEG data showed. Four other Chevron vessels scheduled to load this month - the Pegasus Star, Ionic Anax, Calypso and Sea Jaguar - had their loading windows suspended. Two of them were sailing away from Venezuelan waters on Friday, according to the sources and data. Chevron, PDVSA and Valero did not reply to requests for comment. Venezuela's vice president did not say if the cargoes would be rescheduled by PDVSA. Chevron, whose joint ventures with PDVSA produce about a quarter of the country's oil output, exported some 250,000 barrels per day of Venezuelan crude to the United States in the first quarter under its license, granted in 2022. That license and others to European and Asian companies in Venezuela were canceled by the Trump administration last month as Washington accused President Nicolas Maduro of not doing enough to curb illegal migration to the U.S. and restore democracy in Venezuela. Maduro's government has long rejected the U.S. sanctions on the country's oil industry, in effect since 2019.
Bloomberg
11-04-2025
- Business
- Bloomberg
Chevron Ordered to U-Turn Venezuela Oil Ships Ahead of Sanctions
Chevron Corp. was ordered to return nearly 1 million barrels of Venezuelan oil to Petroleos de Venezuela SA in a blow to the oil major, which was working to secure crude before wrapping up operations in the country when a US sanctions deadline hits in May. Venezuela's state producer Petroleos de Venezuela, known as PDVSA ordered Chevron to return the ships Carina Voyager and Dubai Attraction, currently off the country's coast, to port and discharge their load, according to people with knowledge of the situation.
