A shipping channel snafu is slowing Chevron Corp's efforts to load tankers at one of its four Venezuelan joint ventures and bring heavy crude to the United States, three people familiar with the matter said on Wednesday.
efforts to load tankers at one of its four Venezuelan joint ventures and bring heavy crude to the United States, three people familiar with the matter said on Wednesday.
But a plan to move heavy oil quickly from inventories at the Petroboscan joint venture with state-run company PDVSA is facing delays because of lack of dredging at Maracaibo Lake's navigation channel, the people said. Shallow waters in the channel caused a non-Chevron-related vessel carrying scrap metal go aground in December. Petroboscan has instructed vessels since to limit their draft after loading at the Bajo Grande oil terminal.
In a sign that Chevron expects to expand operations quickly, the oil producer has begun advertising for Venezuelan contract administrators and cargo schedulers. It is recruiting to restaff long-idled operations, particularly for its marketing and trading divisions, which will handle oil exports for its own U.S. refineries and others.last year while submitting a license request to the U.S. Treasury Department, following an agreement with PDVSA.
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