U.S. Resumes Importing 60,000 Barrels of Oil per Day from Venezuela Following Trump's Approval

U.S. Resumes Importing 60,000 Barrels of Oil per Day from Venezuela Following Trump’s Approval

Written by Fabio Lucas Carvalho

Published on 04/09/2025 at 08:38

Updated on 04/09/2025 at 09:17

Foto: Reprodução

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Venezuela’s Exports Reach 966,000 Barrels Daily in August, Driven by Chevron in the U.S. and Strong Demand from China.

Venezuela’s oil exports surpassed 900,000 barrels per day in August, the highest volume since November.

The increase occurred after Chevron received a license that allowed it to resume shipments of Venezuelan products to the United States following a four-month pause.

The U.S. Treasury Department granted a restricted authorization for the company to operate in the country again and export oil in partnership with the state-owned PDVSA.

ARTICLE CONTINUES BELOW

When Was the Authorization Granted?

At the end of July 2025, the U.S. Treasury Department granted Chevron a restricted license that allows the company to resume operations in Venezuela, export oil, and conduct swaps with state-owned PDVSA, but prohibiting any payments to the Venezuelan government.

The granted license was highly restricted: it allowed Chevron to operate, produce, and export oil, but prohibited any payment — whether in cash or royalties — to Nicolás Maduro’s government. This mechanism prevents financially benefiting the Venezuelan regime while ensuring some controlled economic activity in the energy sector.

Contribution of Chevron and China

The resumption of flows to the U.S., combined with increased shipments to China, raised exports by 27% in August. The data, based on tanker movements, indicates an average of 966,485 barrels per day.

The stability of production and the absence of failures in the processing and mixing facilities in the Orinoco Belt also helped expand inventories. Thus, the country was able to increase the volumes sent abroad.

Main Destinations

China remained the largest client. Both through direct and indirect exports, after transfers between ships, the Asian country received 85% of the flows. However, this number represents a decline compared to nearly 95% registered in July.

The United States received about 60,000 barrels per day, while Cuba took approximately 29,000 barrels. Additionally, Europe imported several shipments of Venezuelan methanol.

Products and Imports

In August, Venezuela shipped about 275,000 metric tons of oil by-products and petrochemicals, up from 227,000 tons the previous month. It was the largest volume since May.

To facilitate the increase, the country intensified imports of light oil and naphtha, used to dilute heavy oil and produce exportable grades. These purchases reached 99,000 barrels per day, compared to 58,000 in July.

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U.S. Resumes Importing 60,000 Barrels of Oil per Day from Venezuela Following Trump’s Approval

Venezuela’s Exports Reach 966,000 Barrels Daily in August, Driven by Chevron in the U.S. and Strong Demand from China.

When Was the Authorization Granted?

Contribution of Chevron and China

Main Destinations

Products and Imports

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U.S. Resumes Importing 60,000 Barrels of Oil per Day from Venezuela Following Trump’s Approval

Venezuela’s Exports Reach 966,000 Barrels Daily in August, Driven by Chevron in the U.S. and Strong Demand from China.

When Was the Authorization Granted?

Contribution of Chevron and China

Main Destinations

Products and Imports

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