Venezuela has slowly begun restoring oil production after the US imposed sanctions on its exports in December 2025. State oil company PDVSA is restarting production in previously suspended oil wells as crude exports return, albeit under US supervision, Reuters writes .
Detail of a statue with oil motifs in Caracas. Photo: Javier Campos/dpa (Photo by Javier Campos/picture alliance via Getty Images)
In the first weeks of the sanctions, Venezuela's oil product exports almost ceased, with only Chevron, as part of joint ventures with PDVSA, receiving a license for supplies. This resulted in millions of barrels of oil remaining in storage facilities, forcing PDVSA to temporarily shut down wells and reduce production in joint ventures.
Last week, Venezuela's total crude production fell to approximately 880,000 barrels per day, compared to 1.16 million barrels per day at the end of November. The main oil region — the Orinoco belt — reduced production from 675,000 to 410,000 barrels per day.
This week, two supertankers, each carrying about 1.8 million barrels of crude, departed from the Venezuelan coast, possibly as part of a 50-million-barrel supply agreement between Caracas and Washington. One of the vessels is heading to the South Riding Point terminal in the Bahamas.
PDVSA is also undergoing an internal audit following a cyberattack last month that temporarily paralyzed the company's central systems and slowed down oil supplies and fuel distribution within the country. The audit should help define short-term plans for restoring oil production, refining, and storage, and prepare proposals for investments as part of Trump's $100-billion plan to revive Venezuela's oil industry.
Additionally, American trading companies Trafigura and Vitol have received licenses to trade Venezuelan oil, and negotiations are currently underway with refiners in the US, India, and China regarding crude supplies.
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Comments
Ну пра аднаўленне права і законнасці гэта не пра геніяльна лапідарнага.
Права і законнасць - гэта ж клопаты "левакоў", так?
)))