Chevron has resumed shipments of Venezuelan crude to the United States, sending out the first two cargoes since its license to operate in the sanctioned country was reinstated last month. The Mediterranean Voyager and Canopus Voyager left Venezuelan ports on Friday, carrying Hamaca and Boscan heavy crudes to the U.S. West Coast and Port Arthur, Texas.

The move signals a cautious reopening of trade that had halted earlier this year when the U.S. revoked Chevron’s license, causing Venezuelan exports to drop by 20% and adding strain to the nation’s oil sector. The renewed license prohibits any revenue from going to the Maduro government, reflecting a compromise between enforcing sanctions and addressing U.S. energy needs.

Venezuelan heavy crudes are in demand among Gulf Coast refiners because they match the specifications of coking units designed for similar Mexican and Canadian crude. With Mexico cutting back on heavy crude exports and Canadian pipeline flows limited, Chevron’s return could help ease supply challenges for refiners like Valero, which is reportedly negotiating to secure part of the Venezuelan output.

Strategically, the renewed exports show how U.S. energy security priorities can sometimes take precedence over sanctions, particularly when domestic refiners face shortages. Chevron CEO Mike Wirth stressed that initial volumes are small, but even modest shipments could influence Gulf Coast heavy crude trade.

For Venezuela, the move brings some stability to a struggling oil industry, although current exports remain around 700,000 barrels per day—far below pre-crisis levels due to ongoing infrastructure limitations.

Following the news, Brent crude fell 0.54% to $66.48 per barrel, while WTI dipped 0.64% to $63.55.