First two Chevron oil cargoes depart Venezuela for US after fresh authorisation

The first two cargoes of Venezuelan oil exported by energy major Chevron after it received a fresh US authorisation to operate in the country last month have set sail for the United States, vessel monitoring data showed on Friday.

The US Treasury Department granted Chevron a new license in late July allowing it to operate in the sanctioned South American country and export its oil, a policy shift from more strict rules the Trump administration had imposed earlier this year.

The Chevron-chartered tankers Mediterranean Voyager and Canopus Voyager departed from Venezuelan waters on Friday carrying cargoes of Hamaca and Boscan heavy crudes to US refineries, according to LSEG data and exports records from state company PDVSA.

One of the vessels was heading to the US West Coast, while the other was navigating to Port Arthur, Texas, with estimated date of arrival next week, the data showed.

Chevron is separately negotiating the reactivation of a supply agreement with Valero Energy that could give the US refiner a portion of Chevron's entitled cargoes of Venezuelan crudes, which are popular among US Gulf refiners, sources have said.

Chevron has said it conducts its business globally in compliance with applicable laws and regulations, as well as the US sanctions frameworks. The company's chief executive, Mike Wirth, earlier this month said exports from Venezuela would resume in small volumes.

Chevron exported some 252,000 barrels per day (bpd) of Venezuelan oil to the US in the first quarter, about 29 per cent of the OPEC country's total. 

(Reporting by Marianna Parraga; Editing by Andrea Ricci)