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PDVSA Grabs the Wheel as Chevron Gets the Boot ...Middle East
Venezuela’s state-run oil firm PDVSA is taking over crude shipments once managed by Chevron as sanctions drama and payment disputes derail the fragile oil détente between Washington and Caracas. PDVSA just shipped a 920,000-barrel cargo of heavy Boscan crude—previously exported exclusively by Chevron—out of Venezuela bound for Malaysia, a known trans-shipment point for crude ultimately headed to China. The cargo, produced by the Chevron-PDVSA joint venture Petroboscan, departed from the Amuay ship-to-ship area earlier this…
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