Venezuela's Oil Export System Grounded After Cyberattack Halts Operations

The state-owned oil company Petróleos de Venezuela S.A. (PDVSA) confirmed that a cyberattack targeting its digital systems caused a complete shutdown of its primary export operations at the Caño Limón terminal. The incident, which began late Saturday and persisted into Sunday, led to the suspension of all crude exports via the country’s main pipeline network. According to internal PDVSA reports, the attack compromised core logistics software responsible for monitoring, scheduling, and routing oil shipments. The disruption affects an estimated 1.2 million barrels per day of crude production—equivalent to about 12% of Venezuela’s total daily output. This includes heavy crude from the Orinoco Belt and medium-grade crudes destined for markets in Asia, Europe, and the United States. While some domestic refining operations continued, the halt in exports has already triggered logistical strain across international trading networks. Market participants are assessing the implications for Brent crude prices, with benchmark futures seeing a 3.5% increase on Monday as traders priced in potential supply constraints. Refiners in India, China, and Italy, which rely heavily on Venezuelan crude, have begun rerouting shipments or activating contingency contracts. Energy analysts warn that prolonged outages could further strain Venezuela’s finances, which depend on oil revenues for over 90% of foreign currency earnings. The government has yet to assign responsibility for the attack, but officials have cited external actors and cybercriminal groups as possible perpetrators. Security experts note that critical infrastructure in oil-producing nations remains vulnerable amid rising cyber threats targeting energy systems.