US EditionOil Tankers Still Arriving in Venezuela Despite US Blockade, Data Shows
Venezuelan oil exports dropped by 50% due to U.S. sanctions, with storage rising to 16 million barrels as PDVSA ships crude mainly for debt payments to China.
- At least two oil tankers arrived in Venezuelan waters in recent days, and others are approaching the coast, despite the US naval blockade.
- As part of oil-for-debt arrangements, Venezuela pays for purchases and services with crude bound for Chinese ports.
- Venezuela's oil exports have been cut roughly in half, as US enforcement has seized cargoes and shipowners reroute mid-voyage, leading to a growing armada of tankers sitting offshore with floating storage of around 16 million barrels.
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Houston. At least two oil vessels have entered Venezuela in recent days and others are sailing towards the country, a sign of the efforts of the state oil company Petroleos de Venezuela (Pdvsa) to expand floating storage and continue to sell crude even though the US blockade has reduced exports to a minimum.
At least two oil tankers have arrived in Venezuela in recent days
Oil tankers still arriving in Venezuela despite US blockade, data shows
At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA's effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum.
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