International trading houses have resumed lifting Venezuelan crude under the newly authorized US framework, marking the first visible export activity since Washington assumed control over the country’s oil sales. The restart is centered on Merey 16, one of Venezuela’s primary heavy sour export grade, and signals a cautious re‑entry of the country’s supply into Atlantic Basin trade flows after several years of limited commercial access.
The first shipment loaded at the Jose terminal on 19 January, with the Ice Energy, chartered by Vitol, lifting roughly 450,000 bbl of Merey 16. The vessel subsequently discharged at Bullenbay in Curaçao, unloading into storage. A second departure followed on 24 January, when Trafigura loaded the Gloria Maris with more than 1mn bbl of the same grade, bound for the U.S. Gulf Coast. Both liftings occurred at the Jose terminal.
Merey 16 storage levels at the TAECJAA terminal at Jose have reportedly halved since mid‑January, falling to below 2mn bbl. Over the same period, condensate and naphtha inventories saw significant builds. Vitol has also begun shipping naphtha from US. terminals to Venezuela for use as diluent in heavy crude blending.
