Venezuelan crude reached US ports for the first time in nearly four years in January, about two months after the US eased some sanctions on the country.
By Argus Media – Giovann Rosales
Apr 04, 2023
About 16,000 b/d of 17.9°API Venezuelan crude were imported into Texas in January, according to the latest data from the Energy Information Administration (EIA). The crude was processed at Phillips 66’s 247,000 b/d refinery in Sweeny, Texas.
US oil major Chevron also imported roughly 24,000 b/d of Venezuelan crude in January to its 365,500 b/d Pascagoula, Mississippi, refinery.
In November the US loosened the terms of sanctions which allowed Chevron to resume some of its operations in Venezuela, sell crude cargoes from its joint ventures with Venezuelan state-owned PdV, and to import Venezuelan crude cargoes into the US. Cargoes of naphtha also started to flow from US ports to Venezuela earlier this year.
Before January, the last time the US received crude from Venezuela was in 2019, with around 11,000 b/d arriving in May, according to EIA data.
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Read More: Argus Media – Texas, Mississippi took Vz crude in January
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