Venezuelan oil exports and bonds surge after Maduro's arrest
Since the beginning of the year, around a dozen oil tankers carrying Venezuelan crude oil and fuel have departed the country's waters in "dark mode," according to documents reviewed by Reuters and sources within the industry, including the monitoring service TankerTrackers.com.
The movements suggest a possible breach of a strict blockade imposed by US President Donald Trump, even as Washington insists the oil embargo remains in force following the dramatic capture of Venezuelan President Nicolas Maduro by US troops early Saturday, News.Az reports, citing foreign media.
All of the identified vessels are under sanctions, and most are supertankers that typically transport Venezuelan crude to China, according to TankerTrackers.com and shipping documents from state-run oil company PDVSA. A separate group of smaller sanctioned ships also departed after discharging imports or completing domestic voyages.
At least four of the tankers left Venezuelan waters on Saturday via a route north of Margarita Island after briefly stopping near the country’s maritime border, TankerTrackers.com said, citing satellite imagery. A source familiar with the departure paperwork told Reuters that at least four supertankers had been cleared by Venezuelan authorities to leave in dark mode.
It was not immediately clear whether the departures were in defiance of the US blockade. While Trump said on Saturday that the oil embargo had not been lifted, he added that Venezuela’s largest customers, including China, would continue receiving oil.
PDVSA had accumulated a large inventory of floating storage since the US blockade began last month, bringing Venezuela’s oil exports close to a standstill. The company has begun reducing output and has asked some joint ventures to shut well clusters due to accumulated oil and residual fuel stocks, both onshore and aboard vessels anchored near ports. Oil exports remain Venezuela’s primary source of revenue, which will be critical for an interim government led by Oil Minister and Vice President Delcy Rodriguez to finance spending and maintain stability.
Representatives of the White House, the US State Department, PDVSA, and Venezuela’s oil ministry did not immediately respond to requests for comment.
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