Two sources familiar with the situation said that at least two vessels chartered by Chevron to transport Venezuelan crude are stranded in Venezuelan waters because the state oil company PDVSA canceled their export authorizations following the U.S. imposing secondary tariffs against the OPEC members' buyers. U.S. Oil Producers are waiting for customs paperwork in order to return cargoes after PDVSA cancelled set-sail permissions on two Chevron chartered vessels who had completed loading. Sources said that it also suspended the loading permit for a third tanker.

Chevron received a license from the U.S. Treasury Department to operate in Venezuela sanctioned by the United States in March. The company was allowed to export Venezuelan crude oil to the United States up until the end of May, before it suspended operations.

The deadline could be shortened by PDVSA.

According to LSEG shipping data and sources, as of Friday, the Chevron chartered vessels Dubai Attraction & Carina Voyager remained in Venezuelan waters, waiting for paperwork to return the cargoes.

Sources said that because the cargoes were declared exports by Venezuela's customs authority and Chevron is now required to obtain PDVSA's permission for their return, they must do so.

According to data and sources, Carina Voyager was destined for Chevron’s Pascagoula Refinery in Mississippi while Dubai Attraction had been scheduled to transfer cargo to a Valero Energy chartered vessel off Aruba.

Sources said that a third vessel, Pegasus Star was also suspended from loading this week.

Chevron and PDVSA didn't respond to requests for comments. Valero didn't immediately reply to a request for comment.

PDVSA did not make it immediately clear whether the cargoes were rescheduled.

Chevron's joint ventures with PDVSA, which produce about a quarter the oil production of Venezuela, exported 250,000 barrels of crude Venezuelan to the U.S. per day in the first quarter, under the license granted in 2022.

Last month, the U.S. administration of President Donald Trump canceled this license as well as others granted to European and Asian firms in Venezuela. Washington had accused President Nicolas Maduro for not doing enough in Venezuela to stop illegal migration and restore democracy. Maduro’s government has rejected the U.S. oil sanctions, which have been in place since 2019, calling them an “economic war.”

(source: Reuters)