WILLEMSTAD – Venezuelan crude oil shipments are moving again through Caribbean storage hubs this week, with at least 4.8 million barrels of oil expected to be received by global commodity traders Trafigura and Vitol as part of a renewed effort to export Venezuela’s crude following recent political developments.
According to documents seen by Bloomberg Línea, Trafigura and Vitol – two of the world’s largest oil trading companies – are planning to transfer millions of barrels of Venezuelan crude to storage facilities in the Caribbean region, including terminals capable of handling large oil tankers. Bloomberge’s report notes that the shipments could reach as much as 4.8 million barrels this week, with 2.33 million barrels earmarked for Trafigura and 2.5 million barrels for Vitol.
The move comes after the United States requested assistance from major trading houses to help market Venezuelan oil, particularly following the removal of President Nicolás Maduro from power on January 3 and subsequent changes in export arrangements. Both companies have started positioning crude as part of broader plans to resume Venezuelan oil exports that were largely stalled due to sanctions.
Curaçao’s strategic location and existing oil storage infrastructure – including large tanks and deep-water facilities at Emmastad and Bullen Bay – make it an attractive mid-point for storing and potentially trans-shipping crude as global logistics re-orient. These sites are capable of holding tens of millions of barrels and can support tanker operations for longer-distance exports.
The revived interest in Venezuelan crude exports comes amid ongoing efforts by U.S. authorities to control and commercialize the country’s oil production, and to stabilize the global energy market. Traders are also in discussions with refiners in countries such as India and China regarding future cargo deliveries as early as March, further confirming the sector’s rapid logistical mobilization
The shipment and storage activities are being closely watched, as they signal a significant shift in how Venezuela’s vast oil reserves – long sidelined by sanctions – could be reintegrated into international markets, with Caribbean storage hubs like those in Curaçao playing a key role.