This weekend, Venezuela began loading 250,000 barrels of Boscan heavy crude in Bajo Grande, Zulia state, for export to the United States under loosened sanctions that let Chevron extend its commerce.
This would be the first sale of Venezuelan crude to the United States in four years since sanctions were strengthened in the wake of a 2018 presidential election that the United States claimed was manipulated in favour of Nicolas Maduro.
According to unnamed company sources and onlookers, the Beauty One tanker is slated to complete loading and depart for a US refinery on January 2.
It arrived at the port of Zulia eight days after the December 21 restart of Chevron’s Petroboscan asphaltic crude project with state-owned PdV in the same state, which is now producing approximately 10,000 b/d. Chevron accumulated crude reserves in Venezuela throughout the four years of sanctions against Maduro.
Ship tracking data does not corroborate that Chevron is the charterer of the Beauty One, a 1993-built older tanker, but many sources have confirmed that it is loading for export. In recent months, the tanker has primarily made cabotage voyages in Venezuela.
Neither Chevron nor PdV responded to a request for comment immediately. The Beauty One is one of three ships to have arrived since December 29 as a result of the easing of sanctions.
The Chevron-chartered UACC Eagle is en route to the Jose terminal in Venezuela on January 5 with 620,400 barrels of naphtha, according to Vortexa data. This is a significant diluent for extra-heavy Orinoco crude. Venezuela has been receiving naphtha from Iran as part of an oil cooperation agreement.
Sources and ship monitoring data indicated that the Caribbean Voyager was planned to load upgraded Merey 16 or similar petroleum in eastern Venezuela’s Jose terminal beginning this weekend for Chevron.