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Venezuelan Crude Exports Surge Amid Eased U.S. Sanctions

3/10/2026

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Summary

Story summary

North American Blue Energy, backed by U.S. energy magnate Harry Sargeant III, is exporting nearly 1 million barrels of Venezuelan crude.
The tanker Skage loads at Venezuela's main terminal.
The cargo, initially destined for China, may be resold to Trafigura and Vitol, with delivery to the Bahamas.
Under U.S. President Donald Trump’s administration, sanctions on PDVSA have eased.
Venezuela's oil exports are set for a seven-year high this March.

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Story summary

North American Blue Energy, backed by U.S. energy magnate Harry Sargeant III, is exporting nearly 1 million barrels of Venezuelan crude.
The tanker Skage loads at Venezuela's main terminal.
The cargo, initially destined for China, may be resold to Trafigura and Vitol, with delivery to the Bahamas.
Under U.S. President Donald Trump’s administration, sanctions on PDVSA have eased.
Venezuela's oil exports are set for a seven-year high this March.