Oil Tankers Queue at Venezuela’s Aging Port Ahead of U.S. License Expiry, Data Reveals
A growing number of oil tankers have been spotted queuing near one of Venezuela’s oldest oil ports as companies rush to load shipments before a critical U.S. license allowing limited Venezuelan oil exports expires, according to new shipping data.
Satellite tracking and port records show dozens of tankers anchored off the coast near Puerto La Cruz and other key facilities operated by Venezuela’s state-owned oil giant, PDVSA. The surge in activity comes as the clock ticks down on a temporary license granted by the U.S. Treasury Department, which allowed certain oil transactions despite longstanding American sanctions on Venezuela’s energy sector.
Industry analysts suggest that oil traders and energy companies are trying to maximize exports ahead of potential disruptions. If Washington allows the license to lapse without renewal, Venezuelan oil shipments could once again face severe restrictions, tightening global crude supplies already under pressure from geopolitical tensions elsewhere.
The license, originally issued to encourage political reforms and humanitarian concessions in Venezuela, is set to expire within days. While the Biden administration has not officially confirmed whether it will extend, amend, or terminate the license, sources suggest that renewed sanctions enforcement is likely if significant progress on Venezuela’s political situation remains absent.
In preparation, PDVSA has reportedly ramped up operations, attempting to move as much crude as possible. International buyers are rushing to load cargos before possible restrictions reimpose barriers to trade, risking detention of vessels or future legal complications.
Puerto La Cruz, once a bustling hub of Venezuela’s oil industry, has seen a revival of activity in recent months, though aging infrastructure continues to pose logistical challenges. Long lines of tankers have strained port resources, raising concerns about delays and operational safety.
The looming expiration of the U.S. license highlights the fragile nature of Venezuela’s reentry into global oil markets and the broader implications for energy markets worldwide. Traders, diplomats, and energy analysts alike are watching closely, as any decision from Washington could send ripples through global oil prices.
Source : Swifteradio.com
