Chevron-Booked Ship Laden With Venezuelan Crude Sails to US
This article from Bloomberg may be of interest to subscribers. Here is a section:
The Aframax Sealeo is on its way to the US after receiving Venezuelan crude in a ship transfer off Aruba, according to ship-tracking data compiled by Bloomberg.
Sealeo received Hamaca crude oil from tanker Caribbean Voyager in a ship-to-ship transfer ~Monday
Caribbean Voyager loaded ~500k bbl Hamaca ~Jan. 6 at the Venezuelan government-controlled port of Jose
Sealeo signals Pascagoula, Mississippi, as destination; Pascagoula is the site of the Chevron Pascagoula refinery, a facility designed to process heavy sulfurous oil like the types produced by Venezuela
Cargo is first to sail to US after the country eased sanctions against Venezuela in November
Last time US received Venezuelan crude was in May 2019 when Motiva Port Arthur refinery in Texas took ~350k bbl of Diluted Crude Oil: AHOY data compiled by Bloomberg
Other Chevron tankers sailing to/from Venezuela:
Kerala, which loaded 250k-300k bbl Boscan crude for Chevron, is currently anchored off Lake Maracaibo awaiting orders
UACC Eagle, which is bringing ~620.4k bbl of US heavy naphtha to Venezuela, is currently moored at the port of Jose to discharge.
The less remarked upon result of the shale oil revolution is it is predominately Texas light sweet. Most of the refining capacity on the Gulf coast is set up to handle heavy crude; mostly from Canada and Venezuela.
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