Chevron's Exclusive Path Amid Venezuelan Oil Sanctions

Chevron remains the only U.S. company allowed to export Venezuelan crude as the U.S. imposes a blockade on sanctioned oil tankers. Meanwhile, PDVSA's operations face potential production cuts due to storage capacity issues. The political landscape shifts with interim President Delcy Rodriguez after Nicolas Maduro's capture.

Chevron is now at the center of Venezuelan oil exports, as the sole U.S. company permitted to transport crude amid strict sanctions by Washington, intended to cut off financial support to Nicolas Maduro's government.

Data showed that tankers chartered by Chevron were actively loading at key Venezuelan ports, while other vessels either shuffled oil between domestic locations or stored crude due to diminishing onshore storage capacity.

The U.S. forces recently captured President Nicolas Maduro, creating a power shift as interim President Delcy Rodriguez takes charge. Chevron resumed operations on Monday, becoming a vital player, even as embargoed vessels attempted a discreet departure in defiance of the U.S. blockade.

(With inputs from agencies.)