Venezuela’s oil shipments have plunged following the United States’ seizure of a tanker earlier this week.
The drop comes as new U.S. sanctions target shipping companies and vessels trading with the Latin American nation, according to maritime sources, shipping data and official documents.
Since the seizure on Wednesday, only tankers chartered by U.S. oil major Chevron have been able to leave Venezuelan waters carrying crude, the data showed. Chevron operates under U.S. government authorisation through joint ventures, allowing it to continue exports to the United States.
Around 11 million barrels of oil and fuel remain stranded on other tankers in Venezuelan ports, according to the sources and data. Several of these vessels are already sanctioned under U.S. measures targeting shipments linked to Iran or Russia and could face additional penalties, officials said.
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Venezuela’s oil exports under a flagship $2bn supply deal with the U.S. reached around 7.8 million barrels on Wednesday, vessel-tracking data and state-run PDVSA documents show, with shipments accelerating after Washington eased its blockade — but not enough for PDVSA to fully reverse output cuts.
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Armenia and Azerbaijan will interconnect their energy systems, enabling mutual electricity imports and exports as part of a wider regional transit initiative, Armenian Prime Minister Nikol Pashinyan said.
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Venezuela’s oil exports under a flagship $2bn supply deal with the U.S. reached around 7.8 million barrels on Wednesday, vessel-tracking data and state-run PDVSA documents show, with shipments accelerating after Washington eased its blockade — but not enough for PDVSA to fully reverse output cuts.
Azerbaijan’s State Oil Fund, State Oil Fund of Azerbaijan (SOFAZ), has signed a long-term strategic cooperation agreement worth up to $1.4 billion with Brookfield Asset Management on the sidelines of the World Economic Forum in Davos, officials said.
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The United States is placing renewed emphasis on regional partnerships that offer predictability, security cooperation and economic continuity as instability deepens across the Middle East and parts of Eurasia
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