Micah Jonah, February 14, 2026
Valero Energy is planning to import up to 6.5 million barrels of Venezuelan crude in March for its Gulf Coast refineries, potentially making it the largest U.S. processor of Venezuelan oil since the capture of President Nicolás Maduro in January.
If Valero secures around 10 cargoes, equivalent to 210,000 barrels per day, it could surpass Chevron in refining Venezuelan crude.
The increase comes after the United States eased sanctions on Venezuelan oil, allowing Valero to negotiate directly with Chevron and trading houses like Trafigura. The refinery has expanded its Port Arthur, Texas, facility to process a larger volume of heavy Venezuelan crude, giving it the capacity to handle significantly more than its pre-2023 level of 240,000 barrels per day.
Venezuela’s oil production has rebounded to about 1 million bpd, with exports rising to 800,000 bpd in January. Sales under U.S. control have generated $1 billion, with an additional $5 billion expected in the coming months. Valero aims to benefit from these new export authorizations while navigating licensing rules set by the U.S. government.
This move positions Valero to strengthen its presence in the U.S. heavy crude market, increase operational flexibility, and take advantage of the growing flow of Venezuelan crude, highlighting the evolving dynamics of international oil trade.
