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Shipping data shows that Chevron continues shipping Venezuelan oil but has put the loading on hold to accommodate Chinese buyers.

Shipping data revealed that Venezuela only loaded crude?for U.S. Chevron on February 2, while the state-run PDVSA halted operations to?load?cargoes destined for its principal customers in China for a fifth consecutive day. U.S. Forces captured President Nicolas Maduro and brought him to New York for drug charges. Delcy Rodriguez, the interim president of the Venezuelan government is now in charge. The U.S. says it will supervise the administration.

Last month, the United States placed a blockade against sanctioned oil tanks sailing into Venezuelan waters and out of them. This halted all exports except those that were destined for Chevron.

Chevron, the only U.S. oil major operating in Venezuela under a U.S. licence, is exempt from the sanctions imposed by Washington against Venezuela's petroleum industry to "choke off" revenue that funded Maduro’s government.

Ship monitoring data revealed that on Tuesday, Chevron's chartered vessels were the only ones to load crude oil for export in Venezuela's Jose and Bajo Grande port.

According to PDVSA documents, other ships were either loading to move oil to and from domestic ports or to store "crude" because the onshore storage facilities were almost completely full.

According to data and documents, the last crude cargo loaded at Jose for an Asian client finished loading on 1 January. PDVSA may be forced to increase production cuts if it does not export more because the storage tanks are full.

FLOWING

Chevron resumed Monday exports of Venezuelan crude oil to the U.S., after a four day pause. The company also called its workers in other countries back to their?Venezuelan office as flights into the country resumed. In recent weeks, the U.S. company has become the sole firm exporting Venezuelan crude oil.

In early January, at least 12 vessels that were under sanctions and had loaded in December but had been stuck due to the embargo in Venezuelan waters left.

These vessels carried around 12,000,000 barrels of crude oil and fuel. The vessels' destination was not known, even though they were originally loaded for Chinese customers. Transponders were turned off on the ships, so they left in "dark mode." The ships appeared to have broken the U.S. blockade.

The U.S. Government has not made any comments on the ships or if it authorized their departure. PDVSA did not respond to a comment request. Chevron stated this week that it continues to operate in "full compliance with all applicable laws and regulations."

According to data from ships and eyewitnesses, even after the dozen vessels had sailed away, many of them were still anchored in Venezuelan waters near oil ports, either waiting to be loaded or already fully loaded.

(source: Reuters)