Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children

Venezuela halts Chevron's crude loadings amid escalating US sanctions

  • By Al Mayadeen English
  • Source: Reuters
  • 11 Apr 2025 15:28
  • 1 Shares
4 Min Read

Venezuela’s state oil company PDVSA revokes several authorizations for Chevron to load and export crude, following renewed US sanctions and tariff measures targeting the country's oil sector.

Listen
  • x
  • VenezuelaA sculpture of a hand holding an oil drilling rig stands outside the state-run oil company Petroleos de Venezuela S.A. or PDVSA, in Caracas, Venezuela, on March 21, 2023 (AP)

Venezuela’s state oil company, PDVSA, has revoked several authorizations previously granted to US-based Chevron to load and export Venezuelan crude in April, Reuters reported on Friday, citing three sources familiar with the matter.

The move follows US President Donald Trump’s recent imposition of tariffs on purchasers of Venezuelan oil. It also comes after Washington last month rescinded key licenses that had allowed a limited number of PDVSA partners and customers, including Chevron, to operate and export Venezuelan crude under exemptions to US sanctions on the country.

The US Treasury Department has given those companies until May 27 to wind down their operations and complete any remaining transactions. Under its now-canceled license, Chevron had been exporting approximately 250,000 barrels per day of Venezuelan crude to the United States.

Earlier this month, Washington imposed a 25% tariff on imports of Venezuelan oil and gas—a move analysts say could most severely affect China, Venezuela’s largest oil buyer.

According to one source, two of the canceled shipments involved tankers that had already been loaded and will now have to return to port, while a third shipment had yet to be loaded. It remains unclear whether these cargoes will be rescheduled.

The Venezuelan government, led by President Nicolas Maduro, once again denounced the US measures on Thursday, describing them as part of an ongoing “economic war”.

The new tariffs prompted a temporary halt in some oil loadings earlier this month, particularly those destined for China, though shipments have reportedly resumed this week.

Chevron, whose exports of Venezuelan crude had previously been shielded from the US tariffs due to its special license, had not faced any disruptions from the measures until now, according to sources and shipping data tracking tanker movements.

Venezuela national assembly passes economic emergency decree

Related News

US issues limited license for Chevron in Venezuela: Bloomberg

CNBC unveils strategic plan to revitalize Syria energy sector with US

The latest announcement comes after Venezuela’s National Assembly on Thursday approved a decree proposed by Maduro’s government declaring a state of economic emergency in response to US sanctions and tariffs.

Maduro signed the decree on Tuesday, invoking his constitutional authority to declare states of emergency.

The new measure grants the president broad powers to implement policies aimed at stimulating economic growth, controlling inflation, providing incentives for investors, suspending taxes or exemptions, and promoting import-substitution strategies, among other initiatives.

Vice President and Oil Minister Delcy Rodriguez, who presented the decree to lawmakers, said the emergency regulation is intended to support national production.

She acknowledged that the US measures are impacting the economy but noted that oil and gas production continues despite a 30% decline in prices.

Rodriguez emphasized that Venezuela remains open to international producers, provided they comply with national laws.

Analysts have warned that the US actions could disrupt Venezuela’s oil revenue stream, with potential consequences for the country’s foreign exchange market and domestic prices.

Maduro and his administration have consistently denounced US and other international sanctions as illegitimate and part of an “economic war” aimed at destabilizing Venezuela.

A similar decree was signed by Maduro in 2016 and extended through 2021 in response to US sanctions.

The newly approved decree will now be reviewed by a chamber of Venezuela’s Supreme Court.

Read more: US sanctions on Venezuela aim to cause civil war: Defense minister

  • Chevron
  • United States
  • US
  • Venezuela
  • PDVSA

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS