Chevron Surges 1.32 on 1.31 Billion Volume Ranked 59th as Venezuela Crude Shipments Resume with Valero

On August 5, 2025, Chevron (CVX) rose 1.32% with a trading volume of $1.31 billion, ranking 59th in daily trading activity. The move follows developments in its supply chain operations in Venezuela, where the company is preparing to resume crude oil shipments to U.S. refineries under a renewed agreement with Valero Energy.

Chevron and Valero are finalizing arrangements to reactivate a supply deal for Venezuelan crude, pending a new U.S. license issued in late July. This authorization allows Chevron to operate, swap oil, and export crude from sanctioned Venezuela, marking a policy shift after a prisoner exchange. The resumption hinges on Venezuela’s state company PDVSA allocating cargoes for August delivery and completing mandatory inspections for ship-to-ship transfers off Aruba. In early 2025, Chevron supplied 50,000 barrels per day of Venezuelan crude to Valero’s refineries, accounting for 20% of Chevron’s total exports from the region during that period.

The agreement is critical for Chevron’s second-largest Venezuelan joint venture, Petroboscan, which has faced production cuts due to storage limitations for heavy Boscan crude. Restoring this supply chain could stabilize output and reduce operational bottlenecks in the western Venezuela project.

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