Chevron, Valero in talks to resume supply agreement of Venezuelan oil to US, sources say

Chevron and Valero Energy are working to resume a supply agreement of Venezuelan crude to be refined in the United States, three sources close to the preparations said on Tuesday, following a new license granted to the U.S. oil major.

In the first quarter, before Chevron's license to operate in Venezuela was revoked, Chevron's supply of Venezuelan heavy crude to Valero's refineries from a ship-to-ship operation off the Caribbean island of Aruba secured some 50,000 barrels per day (bpd) to the refiner, according to shipping data.