US EditionExclusive: Citgo buys first Venezuelan oil since 2019 from Trafigura, sources say
Citgo's purchase of 500,000 barrels marks its first Venezuelan crude acquisition under U.S. control since 2019, aiding inventory clearance amid a U.S. naval blockade.
- This month, Citgo Petroleum bought 500,000 barrels of Venezuelan crude from Trafigura, its first purchase under U.S. control, Reuters sources said.
- Amid a U.S. naval blockade , millions of barrels piled up in storage, prompting officials to fast-track Vitol and Trafigura to clear inventories after the capture of Nicolas Maduro, former Venezuelan leader .
- Citgo Petroleum, historically a top buyer of Venezuelan crude, was blocked from Venezuelan barrels by U.S. sanctions in 2019 but remains well positioned to process heavy sour crude.
- The deal marks a major milestone in U.S. efforts to normalize Venezuelan oil sales shortly after the U.S. Administration captured Nicolas Maduro, and Citgo Petroleum did not respond to requests for comment.
- As ownership and sales shift, Citgo Petroleum is being acquired by an affiliate of Elliott Investment Management while Vitol and Trafigura supply Venezuelan crude to Valero, Phillips 66, Repsol, and Saras.
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Cambiar Investors LLC Acquires 91,027 Shares of Chevron Corporation $CVX
Cambiar Investors LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX – Free Report) by 35.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 350,028 shares of the oil and gas company’s stock after buying an additional 91,027 shares during the quarter. Chevron accounts for about 2.5% of Cambiar Investors LLC’s investment portfolio, making the stoc…
Chevron steps on the accelerator in Venezuela with ambitious plans to increase oil production in March Published: 29.01.2026 / redpres.com Photo Flickr Photo Service/Roo Reynolds The US oil company mobilizes a fleet of ships to ship accumulated inventories ...
The US company will increase its shipments of Venezuelan crude to 300,000 barrels a day in March, following the partial lifting of sanctions and Washington's control over the industry.
Mariano Vela, spokesman for the U.S. oil company, celebrates the reform of the Hydrocarbons Act and defended the role of the company alongside PDVSA, in a moment of profound transformations in the Venezuelan energy industry.
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