More than 12 oil tankers have loaded off the coast of Venezuela since the Trump administration intensified efforts to limit Caracas’s crude oil revenues by targeting sanctioned vessels.
Since December 11, approximately 14 ships have loaded their oil; at least six of them are under sanctions, with most loading occurring at the ports of Bajo Grande and Puerto José, according to data from maritime research firm Kepler, which specializes in tracking ship movements and analyzing maritime energy data.
The data shows that loading continues at a nearly normal pace despite escalating tensions, the deployment of a US warship fleet off the Venezuelan coast, and the recent imposition of a naval blockade by the administration aimed at preventing sanctioned vessels from entering or leaving the South American nation.
Over the weekend, US forces boarded the oil tanker “Centuries” – the first non-sanctioned vessel to be targeted – indicating that the administration may broaden the scope of its enforcement actions.
It was announced on Monday that the campaign aims to deter “unlawful activities” and to demonstrate the United States’s desire to remove the Venezuelan president from power.
The Fate of Venezuela’s Oil
During an event at the Mar-a-Lago resort, it was stated that the United States would retain oil seized from vessels linked to Venezuela, either to sell it or add it to the country’s strategic reserves.
Revenue from the oil industry is a crucial source of hard currency for Venezuela’s struggling economy. The country exports approximately 900,000 barrels of oil per day, with about 30% transported via tankers similar to those targeted by the Trump administration.
Among recent shipments, at least three vessels carried products for the benefit of Chevron, which holds a US license to explore for and export oil from Venezuela. In a statement issued Monday, the company reaffirmed that its operations in Venezuela fully comply with US laws and sanctions and that the safety of its personnel is its top priority.
Kepler noted that four other tankers loading at the José export terminal – including the “Centuries” tanker targeted over the weekend – turned off their Automatic Identification System signals (a wireless transmission system that identifies a ship and its location to ensure navigational safety), a tactic that typically indicates illicit activity.
It was noted that “most sanctioned Venezuelan oil is still being transported via vessels not officially listed, and this discrepancy suggests that future US enforcement actions may increasingly focus on vessels not officially under sanctions but engaged in high-risk commercial activities.”
So far, the disruptions have had little impact on oil prices, given ample global supplies.
West Texas Intermediate futures have fallen by about 1% since US forces intercepted and seized the first sanctioned oil tanker off the coast of Venezuela on December 10.
Even with Venezuelan exports at risk, Kepler data shows shipments exceeding recent levels.
Since December 11, average shipping operations have reached 890,000 barrels per day, up from the usual rate of 800,000 barrels, according to Kepler data.
Incentive for Maritime Transport
It is suggested that this increase reflects an incentive to move crude oil out to sea, as expanding onshore storage could slow production. Venezuelan crude represents less than 1% of global supply, with most of it destined for Asia.
It was noted that there are approximately 35 sanctioned oil tankers near the Venezuelan coast, a typical level, adding that data indicates ships are still attempting to reach the country despite the sanctions.
Birkenhead
Birkenhead is a town on the Wirral Peninsula in northwest England, historically part of Cheshire. It grew significantly during the Industrial Revolution as a major shipbuilding and port center, most famously home to the Cammell Laird shipyard. The town is also noted for Birkenhead Park, which opened in 1847 and is considered a pioneering model for public parks, influencing the design of New York’s Central Park.
Venezuela
Venezuela is a South American country with a history shaped by Spanish colonization beginning in the 16th century, leading to its independence in 1811 under Simón Bolívar. It is culturally renowned for its natural landmarks like Angel Falls, the world’s highest waterfall, and its significant oil reserves, which have defined its modern economy and global role.
Caracas
Caracas is the capital and largest city of Venezuela, founded in 1567 by Spanish conquistador Diego de Losada. It grew as a colonial administrative center and later became a pivotal site in South America’s independence movement, serving as the birthplace of Simón Bolívar. Today, it is a major metropolitan and cultural hub situated in a valley of the Venezuelan coastal mountain range.
Bajo Grande
Bajo Grande is a natural sinkhole and archaeological site located in the Yucatán Peninsula of Mexico, formed by the collapse of limestone bedrock. It holds historical significance as a sacred cenote used by the ancient Maya for ritual offerings and as a vital water source. The site provides insights into Maya cosmology and their relationship with the subterranean world.
Puerto José
Puerto José is a small port town located on the northern coast of the Dominican Republic. Historically, it served as a significant export point for agricultural products, particularly cacao, during the late 19th and early 20th centuries. Today, it remains a local hub for fishing and maritime activity.
South American nation
South America is a continent comprising twelve sovereign nations and several territories, with a history shaped by ancient indigenous civilizations, European colonization beginning in the late 15th century, and widespread independence movements in the 19th century. Its modern cultural sites, such as Machu Picchu in Peru or the historic quarter of Colonia del Sacramento in Uruguay, reflect this complex blend of pre-Columbian heritage and colonial influence.
Centuries
“Centuries” is a historical drama television series that premiered in 2017, chronicling the rise of the Ottoman Empire from its humble beginnings in the 13th century to its peak under Suleiman the Magnificent. The show blends fictionalized personal stories of sultans, soldiers, and courtiers with major historical events, such as the conquest of Constantinople, to dramatize the empire’s political and cultural evolution.
United States
The United States is a federal republic founded in 1776 after declaring independence from Great Britain, with its modern government established by the Constitution in 1789. Its history encompasses westward expansion, the Civil War, industrialization, and its emergence as a global superpower in the 20th century. The nation is defined by its diverse cultural heritage, democratic ideals, and significant influence on global economics, politics, and culture.
Mar-a-Lago resort
Mar-a-Lago is a historic resort and national landmark in Palm Beach, Florida, originally built as a private estate for cereal heiress Marjorie Merriweather Post between 1924 and 1927. It was designed in a Spanish, Venetian, and Moorish architectural style and later became a property of the U.S. government before being purchased and converted into a private club by Donald Trump in 1985.
Chevron
Chevron is a major American multinational energy corporation, originally founded in 1879 as the Pacific Coast Oil Company. It grew through mergers, most notably with Standard Oil of California, and today is one of the world’s largest integrated oil and gas companies.
José export terminal
The José export terminal is a major oil shipping facility located in Venezuela’s Anzoátegui state. It was inaugurated in the late 1970s and serves as a key hub for exporting crude oil from the Orinoco Belt, one of the world’s largest oil reserves.
West Texas Intermediate
West Texas Intermediate (WTI) is a grade of crude oil used as a major global pricing benchmark. It originates from U.S. oil fields, primarily in Texas, and its pricing point is based on delivery in Cushing, Oklahoma. The benchmark gained particular prominence in the late 20th and early 21st centuries as a key reference for North American oil prices.
Asia
Asia is the world’s largest and most populous continent, home to ancient civilizations like those of Mesopotamia, the Indus Valley, and China. Its history spans millennia, featuring the rise and fall of vast empires, the spread of major world religions, and profound cultural and scientific advancements. Today, it is a region of immense diversity, encompassing numerous countries with distinct languages, traditions, and modern economies.
