Chevron's Venezuela Oil Exports Resume Under Sanctions as Stock Ranks 87th by $1.03B Trading Volume

Chevron (CVX) saw a 0.65% rise on August 12, with a trading volume of $1.03 billion, ranking it 87th in market activity. The stock's movement coincided with operational developments in Venezuela, where a Chevron-chartered tanker began loading crude at PDVSA's Jose terminal. This marks the company's first export under a new U.S. Treasury license permitting operations in the sanctioned OPEC nation. The license allows Chevron to conduct oil swaps with PDVSA while prohibiting direct payments to the Venezuelan government.

The Bahamian-flagged Canopus Voyager is loading Hamaca heavy crude from a Chevron-PDVSA joint venture. LSEG data revealed five additional vessels near or approaching Venezuelan waters, including the MediterraneanVoyager at Bajo Grande port awaiting Boscan crude loading. Chevron emphasized adherence to sanctions frameworks, though PDVSA did not immediately comment. The resumption of exports follows a prior suspension in April ahead of an earlier license's expiration.

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