Tanker loading in Venezuela has slowed sharply in recent days as U.S. enforcement actions against oil shipments collide with a cyberattack that has disrupted operations at state-run oil company PDVSA, compounding pressure on the country’s crude exports, Reuters reported on Monday.
According to Reuters, most vessels currently lifting Venezuelan oil are moving cargoes only between domestic ports, while a growing number of loaded tankers remain offshore without departing. The slowdown follows U.S. action this month against several vessels linked to Venezuelan oil exports, including the seizure of a sanctioned supertanker and attempted interceptions of two additional ships over the weekend.
U.S. authorities said one of the intercepted vessels was an empty tanker already under sanctions, while the other was an unsanctioned, fully loaded ship bound for China. U.S. President Donald Trump has announced a blockade on all sanctioned oil tankers entering or leaving Venezuela, keeping shipowners on high alert.
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The enforcement push has left millions of barrels of Venezuelan crude stuck on tankers, as buyers demand deeper discounts and contract changes to compensate for the risks of sailing beyond the country’s waters, Reuters reported.
Some tankers approaching Venezuela to load oil or deliver imported naphtha have made U-turns or suspended navigation while awaiting guidance from owners, ship-tracking data cited by Reuters showed.
The disruption comes as PDVSA works to recover from a cyberattack last week that knocked out parts of its centralized administrative system. Reuters reported that the company has been forced to rely on manual records while gradually restoring online systems, with some employees not receiving salaries on time.
U.S. Secretary of State Marco Rubio said on Friday that Washington’s objective was to secure regional stability, adding that the current situation with the Venezuelan government was “intolerable”, according to Reuters.
Venezuelan Foreign Affairs Minister Yvan Gil described the vessel seizures as violations of international law. China’s foreign ministry echoed that view on Monday, Reuters said.
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Reuters reported that Chevron, PDVSA’s main joint-venture partner, has continued exporting Venezuelan crude under a U.S. authorization. Chevron shipped a 500,000-barrel cargo to the U.S. Gulf Coast on Sunday and has exported seven cargoes so far this month, each carrying between 300,000 and 500,000 barrels.
Oil prices rose on Monday, and Reuters attributed this to U.S. sanctions enforcement and Russia’s war in Ukraine causing fears that global supplies could tighten.
