Venezuelan Oil Surges Back Into U.S. as Chevron Ramps Up Massive Imports

Chevron is importing approximately 250,000 barrels of Venezuelan crude oil per day into the United States, according to company officials.

The increase follows recent developments in Venezuela after the recent capture and extradition of socialist dictator Nicolás Maduro from his palace in Caracas.

The country’s new leadership is now cooperating with the U.S. on a variety of matters, including the opening up of its oil markets.

Andy Walz, president of downstream, midstream, and chemicals at Chevron, confirmed the scale of imports in an interview with the BBC.

Tankers are now arriving regularly at U.S. ports, including a recent shipment of 400,000 barrels delivered to the Gulf Coast.

Venezuela has the largest proven oil reserves in the world, but production has declined significantly over the past two decades.

.@Chevron Global Refining President Andy Walz on Venezuelan oil making its way to the U.S.: “Venezuela’s just starting to flow… You’re adding supply. More supply drives down the price — and that will eventually go to the pump.” pic.twitter.com/gJLhYjm7Uz

— Rapid Response 47 (@RapidResponse47) February 12, 2026

Output once exceeded 3 million barrels per day but fell sharply due to the collapse of the country’s economy following Hugo Chavez’s “Bolivarian Revolution.”

Following Maduro’s removal, Venezuelan authorities have moved to reopen the sector to foreign involvement.

Chevron is currently the only U.S. company operating in Venezuela with the ability to extract and transport crude oil.

“We think we can take that up another 50 percent so call it somewhere around 350,000 to 400,000 barrels a day,” Walz said.

Walz added that additional supply from Venezuela could increase availability in the U.S. market as shipments continue.

“When things do get back to normal, that additional supply out of Venezuela will actually translate to lower prices for Americans,” he continued.

”So it will in the future, but it isn’t having an impact now.”

JUST IN: Chevron plans to increase Venezuelan oil imports to 350,000-400,000 barrels per day. pic.twitter.com/jLqdayQciW

— BRICS Monitor (@BRICStracker) April 8, 2026

The increase in imports comes as global oil markets face supply pressure linked to the conflict in Iran and the closure of the Strait of Hormuz.

Unlike many countries, U.S. refineries are able to process heavier crude such as Venezuelan oil.

According to industry data, a majority of U.S. refining capacity is configured to handle heavier grades.

“It’s a pretty big incentive for us to run it,” said Tim Potter, director of Chevron’s refinery in Pascagoula, Mississippi.

“The refinery was really designed… to run heavy oils like from Venezuela.”

The U.S. has issued limited licenses allowing certain companies to purchase Venezuelan oil under controlled conditions. Proceeds from those sales are held under U.S. oversight.

Other companies have also begun loading shipments from Venezuela’s main export terminals under similar arrangements.

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