More tankers arrive for Venezuela crude exports

The second ship in 72 hours slated to carry 250,000 bl of Boscan heavy crude for Chevron to the US entered Venezuela's Lake Maracaibo this morning, the first ones to do so since the US eased sanctions in late November.

The Kerala Panamax tanker arrived at the port of Bajo Grande, Zulia state, after leaving Honduras on 11 December, ship tracking information confirmed. The tanker will carry crude to a US refinery in the Gulf of Mexico, mostly likely Chevron's 369,000 b/d Pascagoula refinery which is suited for Boscan-type heavy crude grades, a Chevron source and another in Maracaibo said.

It follows the Beauty One Handymax which arrived at Lake Maracaibo on 29 December. It is expected to complete loading 250,000 bl of Boscan crude and leave soon, sources have said.

The port is the closest to Chevron's Petroboscan asphaltic crude project with state-owned PdV, which is now producing some 10,000 b/d since 21 December after being mothballed since June. The Caribbean Voyager Aframax was also expected to load upgraded Merey 16 or similar crude in eastern Venezuela's Jose terminal starting this weekend for Chevron, sources and ship tracking data confirmed.

The UACC Eagle chartered by Chevron is also in transit to arrive on 5 January at Venezuela's Jose terminal, laden with 620,400 bl of naphtha according to Vortexa data.

Oil operations have intensified even as the US state department said on Tuesday it does not consider Nicolas Maduro to be the legitimate president of Venezuela.

The US government will work with the Venezuelan opposition to uphold its claim to US refiner Citgo and the country's other overseas assets despite the recent ouster of Juan Guaido, whom Washington viewed as Venezuela's legitimate leader, the department said.

By Carlos Camacho