Venezuela Sanctions Likely to Hit Some US Refiners
Venezuela Sanctions Likely to Hit Some US Refiners Refiners have told allies in the White House and on Capitol Hill that a unilateral crude oil ban will disadvantage U.S. refiners without
Venezuela's revenues from oil sales to the United States have come under severe threat as sweeping sanctions on Venezuelan state-owned oil firm has sent U.S. buyers scrambling for replacements.
Venezuelan sanctions unlikely to have a significant
Venezuelan sanctions unlikely to have a significant impact on U.S. refiners. Recently announced U.S. sanctions directed at Venezuela’s energy sector and state oil company, Petróleos de Venezuela, S.A. (PDVSA), will essentially eliminate U.S. imports of Venezuelan crude oil as the full effects of the sanctions emerge. Venezuela’s
Some U.S. refiners have begun reducing crude processing as crude oil costs have risen following U.S sanctions on Venezuela and as gasoline margins crashed to their lowest in nearly a decade
As Venezuela oil sanctions approach, US Gulf Coast
As Venezuela oil sanctions approach, US Gulf Coast refiners diversify crude export market appears highly unlikely as the country sinks further into an economic crisis. imposing any
In January the United States imposed sanctions on Venezuela’s most important global business producing and selling crude oil, which accounts for more than 95 percent of the country’s export
U.S. sanctions on Venezuela would reroute crude,
Potential U.S. sanctions on Venezuela's crude oil exports would cut off the nation from Gulf Coast refiners that are among its biggest customers, likely forcing it to send more crude to China
U.S. Treasury Secretary Steven Mnuchin down-played the impact of the sanctions on the oil market, maintaining they were unlikely to have any impact on fuel prices. He said that Venezuelan oil comprises a “rather moderate portion” of U.S. supply and that refiners have largely reduced their imports of Venezuelan crude as sanctions
Top U.S. Refiner: Venezuela Sanctions Are Not
Mar 15, 2025 (Baystreet.ca via COMTEX) -- The U.S. sanctions on Venezuela's oil industry have not had a significant impact on the operations of the largest U.S. refiner Marathon Petroleum Corp
U.S. Treasury Secretary Steven Mnuchin down-played the impact of the sanctions on the oil market, maintaining they were unlikely to have any impact on fuel prices. He said that Venezuelan oil comprises a “rather moderate portion” of U.S. supply and that refiners have largely reduced their imports of Venezuelan crude as sanctions
- Does US oil trade affect sanctions on Venezuela?
- Petroleum trade between the United States and Venezuela is bilateral, although heavily weighted towards Venezuela crude oil exports to U.S. refiners (see Table 1). Generally, in terms of sanction considerations, the larger the trade volume the larger the impact of sanctions for each petroleum category. Table 1.
- How would a Venezuelan oil ban affect US crude oil prices?
- An immediate prohibition of U.S. crude oil imports from Venezuela would put upward price pressure on crude oil purchased by U.S. refiners until the supply system adjusts for this constraint. To the extent that higher crude oil prices are reflected in the price of petroleum products, U.S. industries and consumers would also be affected.
- What if the US stopped exporting petroleum products to Venezuela?
- In turn, the United States exported 77,000 bpd of petroleum products to Venezuela. Prohibiting Venezuela product exports to the United States would result in a small but likely manageable constraint in the petroleum product supply system. Venezuela would need to establish alternative markets and U.S. buyers would need to find alternative sources.
- Could Venezuelan oil sanctions relief be tested soon?
- Venezuelan Oil-Sanctions Relief Was Just Announced. It Could Be Tested Soon. About the authors: Luisa Palacios is senior research scholar at Columbia University’s Center on Global Energy Policy. Francisco Monaldi is fellow and director of the Latin American Energy program at Rice University’s Baker Institute for Public Policy.
- Why did the US impose sanctions on Venezuela?
- When the U.S. imposed sanctions in 2019 through executive orders targeting the country's oil and gas sector, all U.S. imports of Venezuelan crude were immediately suspended, hitting U.S. producers with operations in Venezuela such as Chevron. U.S. service firms including SLB, Halliburton, Baker Hughes and Weatherford were also affected.
- Could sanctions on Venezuela's petroleum sector impose economic pressure on Maduro?
- Various sanction options on Venezuela’s petroleum sector are reportedly being considered by the Administration as a potential means of applying economic pressure on the Maduro government.
