Bloomberg reported that Russia has overtaken the United States as the main supplier of naphtha to Venezuela, a critical oil refining product for the petrochemical industry. The shift occurred after U.S. sanctions on Venezuela’s oil sector led to the revocation of Chevron’s operating license in the country. Data from Kpler, an analytical firm, revealed that Russia shipped over 7 million barrels of naphtha to Venezuela between March and October, with daily deliveries reaching 49-69 thousand barrels in August and September.
Venezuelan President Nicolas Maduro’s government announced a partnership agreement with Russia this month to enhance collaboration in energy and defense sectors amid escalating tensions. The U.S. has continued deploying military personnel and equipment to Venezuela, while previous negotiations between Venezuelan officials and the Trump administration failed to secure favorable terms for American involvement in the country’s oil resources.
Russia Surpasses U.S. as Venezuela’s Primary Naphtha Supplier Amid Sanctions Pressure
