Listen to this article

Venezuela Cancels Shipments to Chevron, Oil Exports Drop 20% to 700,000 BPD as Last Chevron Vessel Returns Cargo

6 posts • GPT (4.1 mini)

Updated May 3, 2025, 10:40 PM

Venezuela's state oil company PDVSA has canceled crude oil shipments to Chevron and returned cargoes en route to the United States, according to Reuters. This move led to a nearly 20% decline in Venezuela's oil exports in April, reaching approximately 700,000 barrels per day, marking the lowest level in nine months. The reduction is attributed to uncertainties surrounding sanctions. Meanwhile, shipments to China and India have increased.

The last Chevron-chartered vessel has begun returning its Venezuelan oil cargo. Chevron's CEO stated that despite these changes, barrels from Venezuela continue to flow but are redirected to different markets, and the company has been unable to pay taxes and royalties for these liftings. Venezuela is also actively managing efforts to have China, its largest crude buyer, purchase more oil amid the withdrawal of Chevron and other foreign energy operators. Reports suggest Beijing is considering acquiring Chevron's assets in Venezuela if Washington enforces a complete exit.

More breaking stories on DeepNewz — updated live.

#Venezuela #PDVSA #Chevron #United States #Reuters #China #India #Venezuelan #Beijing #Washington

Related Prediction Markets

Will Venezuela invade Guyana in 2025?

•

Sources

jp.reuters.com(3)bitlyanews.com(2)americasquarterly.org reuters.com

Servicio de Información Pública

@infopublicave

📢 #Venezuela oil exports fell by almost 20% to about 700,000 barrels per day in April, after the cancellation of shipments to Chevron, forcing the return of ships and leaving some ports empty, the @Reuters agency reported https://t.co/6gjVWeSnIq

First Squawk

@FirstSquawk

CHEVRON CEO SAYS RECENT CHANGES REGARDING VENEZUELA HAVE RESULTED IN CHEVRON BEING UNABLE TO PAY TAXES AND ROYALTIES FOR LIFTINGS || CHEVRON CEO SAYS BARRELS FROM VENEZUELA STILL FLOWING, JUST GOING TO DIFFERENT MARKETS

Americas Quarterly

@AmerQuarterly

Venezuela is redirecting oil exports to China—its largest crude buyer—at steep discounts, and Beijing is reportedly eyeing Chevron’s assets should Washington ultimately force an exit, writes @BrianPFonseca: https://t.co/qKDs3eAtWI

Story Timeline

1 month ago•Latest version

Venezuela Cancels Shipments to Chevron, Oil Exports Drop 20% to 700,000 BPD as Last Chevron Vessel Returns Cargo

2 months ago

Venezuela's Oil Exports Fall to 700,000 BPD Amid Chevron Cancellations, U.S. Sanctions; Seeks China's Support

2 months ago

Venezuela’s Oil Exports Fall 20% to 700,000 bpd After Chevron Cargo Cancellations; China Seeks Contract Renegotiation

2 months ago•Original version

Venezuelan Oil Exports Fall to 700,000 BPD in April as Chevron Cancellations, Zombie Tankers Near May 27 U.S. License Deadline

Image Viewer

Venezuela Cancels Shipments to Chevron, Oil Exports Drop 20% to 700,000 BPD as Last Chevron Vessel Returns Cargo

Related Prediction Markets

Will Venezuela invade Guyana in 2025?

Sources

Story Timeline

Similar Stories