Chevron Cargoes Blocked by PDVSA After New Tariffs

Chevron is facing new export delays in Venezuela as state oil firm PDVSA cancels key shipping authorizations. The disruptions come after the U.S. imposed secondary tariffs on countries importing Venezuelan crude, creating logistical and diplomatic chaos.

At least two Chevron-chartered vessels—Dubai Attraction and Carina Voyager—remain stuck in Venezuelan waters as of Friday. These ships had completed loading but were denied final set-sail paperwork, two industry sources confirmed.

PDVSA Cancels Set-Sail and Loading Authorizations

PDVSA canceled the vessels’ export declarations, classifying them as domestic cargoes, which now require new customs clearance for re-export. A third Chevron-linked ship, Pegasus Star, was also denied a scheduled loading window.

This administrative bottleneck follows a U.S. Treasury license granted to Chevron in March, allowing Venezuelan crude shipments until late May. Now, PDVSA’s actions may cut that timeline short, adding tension to already strained U.S.-Venezuela relations.

Chevron Faces Operational Uncertainty

• Carina Voyager was bound for Chevron’s Pascagoula refinery in Mississippi.
• Dubai Attraction planned a ship-to-ship transfer to a Valero Energy-chartered tanker near Aruba.

Both vessels remain idle while Chevron seeks authorization to return the cargoes to port, a process currently under PDVSA’s discretion.

License Suspensions Heighten Industry Risk

Chevron’s Venezuelan ventures—accounting for 25% of the country’s total oil output—have exported around 250,000 barrels per day (bpd) to the U.S. in Q1 2025 under its unique operating license.

But in March, U.S. President Donald Trump canceled these licenses, citing President Nicolás Maduro’s failure to meet migration and democracy commitments. Licenses for European and Asian firms were also revoked.

Broader Impact on Oil Trade and Diplomacy

The Trump administration’s new secondary tariffs have put buyers and shippers on edge, further isolating Venezuelan oil. Maduro’s government, which labels U.S. measures an “economic war,” continues to reject these restrictions imposed since 2019.

It remains unclear if PDVSA will reschedule the stalled cargoes, but tensions between the state oil firm and Chevron could risk further disruptions for both Venezuelan supply and U.S. refineries.