As the U.S. license expiration deadline approaches on May 27, 2025, oil tankers are queuing at Venezuela’s aging La Salina terminal in the western region to load crude and depart before sanctions tighten, reports Reuters.
Tankers queue near old Venezuela oil port
Venezuela, under U.S. sanctions, is attempting to maintain exports by launching a new crude grade, Blend 22, produced by state-owned PDVSA. However, La Salina’s deteriorated infrastructure and limited capacity—only 350,000 barrels due to insufficient dredging—pose challenges.
Despite risks, buyers are loading from this terminal to secure supply before U.S. waivers expire, resulting in delays and congestion. One vessel, chartered by Vitol and carrying 250,000 barrels for France’s Maurel & Prom, is being cleaned post-loading due to pollution from oil leaks.
A broader oil swap involving heavy naphtha is under discussion for future shipments. PDVSA has also shifted operations to the nearby Bajo Grande terminal for Boscan crude storage, following the cancellation of previously allocated shipments to Chevron. Several Chevron tankers remain near Aruba awaiting instructions.
President Nicolas Maduro has condemned renewed U.S. sanctions, labeling them an “economic war.”
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Source: Reuters
