Chevron Corp has shipped its next cargo of heavy naphtha to an oil project it shares with Venezuelan state-run company PDVSA, according to a shipping document, data and sources.
By Reuters – Marianna Parraga
Jan 17, 2023
Chevron has received four cargoes of Venezuelan crude since the U.S. Treasury Department in November authorized the company to reanimate production and expand operations in OPEC member Venezuela as an exception to sanctions on PDVSA. Most cargoes are set to discharge at its Pascagoula, Mississippi, refinery.
California-based Chevron earlier this month also delivered its first cargo of heavy naphtha to Venezuela, which is used by PDVSA’s joint ventures as diluent to produce exportable crude grades, helping untangle operational issues at a project’s oil upgrader.
The second 450,000-barrel naphtha cargo will be carried onboard tanker Hamburg Star, which finished loading on Tuesday at Houston and is scheduled to set sail this week to Venezuela, according to a shipping document and Refinitiv Eikon data.
Chevron-chartered tanker Carina Voyager on Tuesday was loading some 520,000 barrels of Venezuelan Hamaca heavy crude at PDVSA’s Jose port, while tanker ICE Fighter finished loading some 230,000 barrels of Boscan heavy crude at the Bajo Grande port, according to schedules seen by Reuters.