Market Chatter: Chevron Set to Export 1 Million Barrels of Oil From Venezuela

MT Newswires Live12-19

Chevron (CVX) is set to export 1 million barrels of crude from Venezuela, Bloomberg News reported Thursday, citing its tanker tracking data.

The company has finished loading one cargo onto a ship called Searuby and is loading another onto the vessel Minerva Astra, according to the Bloomberg tracker, the report said.

The report comes a day after US President Donald Trump ordered a naval blockade of sanctioned oil tankers entering and leaving Venezuela.

Chevron's vessels are not covered by the sanctions and the company holds a US license to drill and export oil from Venezuela. Chevron plans to send more oil shipments to the US from Venezuela in January, following the sale of at least 10 cargoes, the report added.

"Chevron's operations in Venezuela continue without disruption and in full compliance with laws and regulations applicable to its business, as well as the sanctions frameworks provided for by the US government," a company spokesperson told MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 147.63, Change: -1.90, Percent Change: -1.27

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