A cargo of 1.2 million barrels of Venezuelan crude oil, sourced from the country’s state-owned PDVSA and transported by Trafigura, arrived at the Port of Willemstad in Curacao on January 14, 2026. The shipment marks a notable resurgence in Venezuelan oil exports to the Caribbean region.
- 1.2 million barrels of Venezuelan crude delivered to Curacao’s Port of Willemstad on January 14, 2026
- Cargo sourced from PDVSA and transported by Trafigura via MV Oceanic Trader
- Represents the largest Venezuelan crude shipment to Curacao in over 18 months
- Crude grades include Merey and Usme, intended for processing at Refineria de Curacao
- Part of a broader trend of Venezuelan exports resuming via third-party intermediaries
- Curacao’s refining capacity (80,000 bpd) is sufficient to process the cargo over ~50 days
The vessel, identified as the MV Oceanic Trader, docked at the Curacao terminal after departing from the Gulf of Venezuela on January 5, 2026. The cargo, consisting of heavy crude grades including Merey and Usme, was managed under a contract between Trafigura and a regional refiner based in the Caribbean. This marks the largest Venezuelan crude shipment to Curacao in over 18 months. The delivery reflects a gradual reopening of Venezuelan crude exports following the easing of certain U.S. sanctions in late 2025. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) granted conditional approval for limited oil shipments through third-party intermediaries in December 2025, enabling companies like Trafigura to facilitate trade without direct U.S. financial exposure. The 1.2 million-barrel load represents approximately 15% of Curacao’s monthly refining capacity, which stands at 80,000 barrels per day. The crude is expected to be processed at the country’s main refinery, the Refineria de Curacao, operated by Curaçao Refining Company. The arrival comes as regional demand for heavy crude remains stable, particularly from small-scale refiners in the eastern Caribbean and northern South America. Market analysts note that the shipment signals growing confidence in alternative trade routes for Venezuelan oil, reducing reliance on traditional buyers such as China and India. The success of this transaction may encourage further shipments through Caribbean hubs, potentially increasing Curacao’s role as a logistical node in Latin American oil flows.