US to resume Venezuelan oil imports

An oil tanker on Lake Maracaibo, Venezuela, October 14, 2022. REUTERS - STRINGER

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US oil giant Chevron plans to resume exports of oil produced in Venezuela this month to the United States.

Five hundred thousand barrels will be transported.

A first after three years of American embargo on Venezuelan oil. 


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Venezuelan oil must be refined in Pascagoula, on the Chevron site, in the state of Mississippi.

An operation that became possible after the White House allowed the American company at the end of November to partially resume oil extraction in Venezuela for the next six months.

War in Ukraine

According to Washington, this license was granted to the American giant after an advance in dialogue, encouraged by the White House, between the regime of President Nicolas Maduro and his opposition.

But industry analysts see another reason behind this first relaxation: the global energy crisis caused by the war in Ukraine has reshuffled the cards and pushed the US administration to review its policy with Caracas.

Significant reserves of black gold

After the embargo on Russian oil decreed by the Americans at the start of the conflict in Ukraine, the United States, which imported an average of 700,000 barrels a day from Russia, sought other sources of supply.

Venezuela could become a potential supplier, the country has indeed large reserves of black gold.

►Also read

: Venezuela: weak improvement in the oil market with the resumption of Chevron's activities


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