At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA's effort to expand floating storage and
At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA's effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum.
U.S. President Donald Trump this month announced a blockade of all sanctioned vessels going in or out of Venezuelan waters as part of a strategy to pressure Venezuelan President Nicolas Maduro. The U.S. move has cut oil exports this month to about half of their November level.
The U.S. has seized two fully loaded cargoes of Venezuelan oil and its ships are patrolling the Caribbean Sea. The pressure has scared many vessel owners, prompting re-routings and u-turns. Only a fraction of ships have kept on course to the OPEC country.
Some tanker owners have insisted. At least two ships under sanctions have arrived in Venezuela over the last few days and two more that are not under sanctions are approaching its coast, according to monitoring service TankerTrackers.com.
As part of swaps and arrangements made since the country was first placed under U.S. energy sanctions in 2019, Maduro's administration pays for a long list of
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