*

Tankers return to ports to finish loading a week after

pause,

delays

*

Crude cargoes set sail, destinations include India and

China

*

Cuba has benefited, to receive more cargoes this month

April 9 (Reuters) - Many buyers of Venezuelan oil have

resumed loading crude onto tankers after a week-long hiatus at

the country's ports after the U.S. applied tariffs that

President Donald Trump imposed on importers of the OPEC nation's

oil, according to shipping data and documents.

In March, the U.S. Treasury Department gave U.S. oil

producer Chevron ( CVX ) and other foreign partners and

customers of PDVSA until May 27 to wind-down operations and

cease oil exports from Venezuela. Days later, Washington imposed

tariffs on buyers of Venezuela's oil and gas.

The measures prompted the suspension of some tanker loadings

at the country's main oil port of Jose and created delays at

smaller terminals. Trump's hardening stance discouraged traders

and importers from continuing to ship Venezuelan oil.

Following the U.S. measures on oil buyers, many vessels

undocked at Jose and moved offshore. Now, many of these have

returned to complete their loading. They have begun departing

from Venezuelan waters bound for destinations including India

and China, according to the data and internal documents from

Venezuelan state oil firm PDVSA.

"There was a panic moment when the vessels undocked, but

they later received instructions to complete their cargoes," a

PDVSA source said.

As of Wednesday, crude cargoes allocated to Chevron ( CVX ) for U.S.

delivery, Reliance Industries for India delivery and

several intermediaries for China delivery were setting sail in a

signal that Venezuela's oil exports will not collapse in the

short term.

PDVSA, Chevron ( CVX ) and Reliance did not immediately reply to

requests for comment. The government of President Nicolas Maduro

has blasted U.S. sanctions on Venezuela as an "economic war."

On its side, PDVSA is reorganizing output and crude

upgrading to refine more oil domestically in the second half of

the year. This could blunt the impact of lower crude exports.

In China, the main importers of Venezuela's heavy crude

grades are independent refiners known as teapots that buy

through intermediaries. As the tariffs loomed last month, some

refiners delayed or suspended imports from the South American

country, opting for Brazilian and West African crudes instead.

Chinese traders and refiners told Reuters last month they

would wait to see how the tariff order was implemented and

whether Beijing would direct them to stop buying.

Some independent refiners temporarily paused purchases from

Venezuela as they sought information on whether supply would

remain available and at what price.

China is Venezuela's largest oil buyer, directly and

indirectly taking in some 480,000 barrels per day (bpd) of crude

and fuel this year. The U.S. is the No. 2 destination with

250,000 bpd, India is third with 63,000 bpd and Europe fourth

with 44,000 bpd.

In the long run, analysts forecast oil output will

decline between 150,000 and 350,000 bpd by year end if the

wind-down period granted to buyers is not extended or secondary

tariffs lifted. Venezuela produced 921,000 bpd of crude last

year, according to figures reported to OPEC.

Some joint venture partners of PDVSA, including Europeans

Eni and Repsol, have said they are in talks

with Washington seeking exemptions to the U.S. sanctions on the

country that would allow them to keep producing oil and gas in

Venezuela even if barrels are not exported.

The loading hiccups are temporarily benefiting Venezuela's

political ally Cuba, with more crude cargos planned for that

destination this month, the documents showed.

(Editing by Simon Webb and David Gregorio)