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US tried to intercept two more ships over the weekend
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China and Venezuela condemn US actions as violations of
international law
By Marianna Parraga
Dec 22 (Reuters) - Tanker loading in Venezuela dwindled
on Monday, with most ships moving oil cargoes only between
domestic ports following U.S. action against two more ships and
as state-run energy company PDVSA struggles to recover from a
cyberattack, according to tracking data and sources.
The U.S. Coast Guard this month seized a supertanker under
sanctions carrying Venezuelan oil and tried to intercept two
more Venezuela-related ships over the weekend, U.S. authorities
said. One of them is an empty ship under U.S. sanctions, and the
other is an unsanctioned, fully loaded tanker bound for China.
Washington has not provided updated information on the
ships. U.S. President Donald Trump last week announced a
blockade of all oil tankers under sanctions entering and leaving
Venezuela. Trump's pressure campaign on Venezuelan President
Nicolas Maduro has included a ramped-up military presence in the
region and more than two dozen military strikes on vessels the
U.S. alleges are transporting drugs in the Pacific Ocean and
Caribbean Sea near the South American nation. At least 100
people have been killed.
OIL PRICES RISE
The vessel interceptions have dealt the toughest blow to
PDVSA since the U.S. Treasury Department in 2020 imposed
sanctions on the company's former oil trading firms, two units
of Russia's Rosneft, which forced output and export
cuts.
Brent crude futures gained 2.17% to $61.78 a barrel
on Monday, while U.S. WTI crude rose 2.2% to $57.77
following the U.S. actions and amid Russia's war against
Ukraine, with both developments raising fears of supply
disruptions.
As of Monday, PDVSA had delivered a 1.9 million-barrel cargo
of heavy crude to the Aruba-flagged sanctioned vessel Azure
Voyager at the Jose port, but no other supertanker bound for
Asia was scheduled to load soon, internal company documents
showed.
The number of loaded tankers that have not departed has
increased in recent days, leaving millions of barrels of
Venezuelan oil stuck in ships, while customers demand deeper
discounts and contract changes to take risky voyages beyond the
country's waters.
Some tankers approaching Venezuela's coast, either to load
oil for export or to deliver imported naphtha, have also made
U-turns or suspended navigation recently until instructions from
owners to load are clarified, LSEG monitoring data showed on
Monday.
PDVSA is slowly restoring some online systems and resorting
to written records after a cyberattack last week. The company
has been unable to fully re-establish its centralized
administrative system, and many workers have not received their
salaries on time, sources said.
PDVSA and Venezuela's Oil Ministry have not replied to
requests for comment. The country's Foreign Affairs Minister,
Yvan Gil, said on Monday the U.S. seizures are against
international law and constitute "acts of piracy."
China's Foreign Ministry said on Monday the recent U.S.
interceptions were a serious violation of international law.
PDVSA's main joint-venture partner Chevron ( CVX ) exported
a 500,000-barrel cargo of Venezuelan oil on Sunday, bound for
the U.S. Gulf Coast on one of its tankers under its U.S.
authorization, LSEG ship data showed.
Oil Minister Delcy Rodriguez said on Sunday Venezuela had
not interrupted deliveries to Chevron ( CVX ), in a social media post
that included a video of Venezuela's maritime authority
overseeing the ship's departure.
Chevron ( CVX ) has exported seven cargoes of Venezuelan oil to the
U.S. this month, each carrying between 300,000 and 500,000
barrels, according to monitoring data.
PURSUED BY THE U.S.
The Panama-flagged empty supertanker Bella 1, which the U.S.
Coast Guard tried to intercept on Sunday when the ship
approached Venezuela, was drifting on Monday northeast of
Bermuda in the Caribbean, a satellite image obtained by
TankerTrackers.com showed.
A U.S. official told Reuters on Sunday the tanker had not
been boarded and that interceptions could take different forms -
including by sailing or flying close to vessels of concern.
The loaded vessel Skipper, the first seized by the U.S. this
month, reached an area near the Galveston, Texas, port for
transferring oil cargoes on Sunday, maritime sources said.