Venezuelan state oil firm Petroleos de Venezuela SA (PDVSA) has ordered Chevron Corporation to return nearly one million barrels of oil, amid payment uncertainty related to U.S. sanctions.
Reuters – citing shipping data and sources – reported on April 14 that a vessel chartered by Chevron carrying some 500,000 barrels of Venezuelan oil is about to complete the discharge of the cargo at a Venezuelan port.
The agency reported that at least nine tankers Chevron had chartered to carry Venezuelan crude to the U.S. are now stalled in the Caribbean Sea. Chevron is reportedly awaiting directions after PDVSA last week ordered two cargoes to be returned and canceled loading permits to others.
The crude was being transported by the ships Carina Voyager and Dubai Attraction, which have now been instructed to return to port and discharge their cargo.
Venezuelan Vice President Delcy Rodriguez said, “Because of the economic war initiated by the U.S. government against oil companies, Chevron has returned cargoes of crude to PDVSA. This crude is being sold on international markets.”
The move comes as the U.S. reinstates tighter sanctions on Venezuela.
Chevron had planned to load five million barrels of oil in April, but all remaining shipments were canceled.
The U.S. has ordered Chevron to end operations in Venezuela by May 27.
