Venezuela is tapping Chevron Corp. for supplies of a key feedstock after a US warship blocked the path of a Russian vessel near the country’s coast, threatening to roil deliveries of the much-needed material.
The oil major can only load crude oil after it delivers a cargo of diluent naphtha — used to help oil flow in pipelines — to Venezuela, according to a person with knowledge of the situation.
The Chevron-booked ship Nave Neutrino, which was scheduled to load a parcel of crude oil at the Venezuelan government-controlled terminal of Jose, left the coast empty after two days, said two people, asking not to be named because the information is private. The vessel instead sailed to the US Virgin Islands, where it is loading naphtha for Venezuela. After discharging at Jose, it will be able to load crude, one of the people said.
Chevron, which regularly buys naphtha for its projects in Venezuela, said in a statement that its operations there “continue in full compliance with laws and regulations applicable to its business, as well as the sanctions frameworks provided for by the U.S. government.”
The last-minute change came after the Russian vessel Seahorse, on its way to back to Venezuela from Cuba, hit the brakes when the US destroyer USS Stockdale crossed its path. The Seahorse made its way to the Venezuelan coast after the warship moved away, according to ship movements tracked by Bloomberg.
The rerouting of the Nave Neutrino underscores the challenges Venezuela has faced since the US beefed up its military presence in the region as part of a campaign to force leader Nicolas Maduro from office. Oil production, already severely constrained, now faces a new setback as dark-fleet ships reconsider approaching Venezuela’s ports.
Supplies of naphtha are tight in Venezuela after an explosion at a oil facility that helps separate the material, according to a person with knowledge of the situation. The oil ministry did not immediately respond to a request for comment.
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