Three ships head to US with Venezuela oil amid capacity concerns

Paris: Three of 11 vessels chartered by Chevron were Thursday transporting oil from Venezuela to the US, according to an AFP analysis of ship tracking...

Paris: Three of 11 vessels chartered by Chevron were Thursday transporting oil from Venezuela to the US, according to an AFP analysis of ship-tracking data, as export sanctions raised concerns over the South American country's storage capacity.

Two more of the tankers were anchored at Bajo Grande refinery port, western Venezuela, while the remaining six were on their way to the South American country, according to ship-tracking data collated by Bloomberg and trade information platform Kpler.

Chevron is the only US company to have operations in Venezuela and booked the tankers as part of a regular schedule of crude shipments back to the US.

While the boats were in transit, US President Donald Trump said Tuesday that Caracas will turn over 30mn to 50mn barrels of sanctioned crude to the US.

The US blockade of Venezuelan exports is causing a build up of oil in storage, warned analysts from Kpler.