Three Rosneft-chartered VLCCs leave Caribbean waters unladen

Russian oil major Rosneft’s Venezuelan oil loads have been cancelled due to sanctions, according to Refinitiv Eikon data and a document from Venezuelan state-run oil firm PDVSA.

It said three large crude carriers (VLCCs) chartered by units of Rosneft to transport some 5.7 million barrels of Venezuelan heavy crude to Asia, left Caribbean waters empty on Saturday March 28, after the cargoes were cancelled due to sanctions.

The vessels in question had waited for weeks near Venezuelan waters to load, but the cargoes were then cancelled due to sanctions on PDVSA and Rosneft’s trading units, according to the PDVSA export program.

Two of the three tankers have changed their destinations after re-bookings: the HRA was sailing to Brazil’s Angra dos Reis port for loading Petrobras crude bound for China, while the Dragon set sail to Gibraltar, according to Eikon. The third vessel, the Maria Angelicoussis, had not yet set a new destination at the time of going to press.

The tankers’ move occurred the same day that Rosneft announced its withdrawal from its oil projects in Venezuela through a coordinated sale of assets to an undisclosed company controlled by the Russian government.

PDVSA had said in previous export schedules that the vessels had faced delays to load Venezuelan oil while waiting for new directions from their owners following the imposition of US sanctions on Rosneft Trading and TNK Trading this year.

For more information visit www.rosneftmarine.com

6th April 2020