The Minerva Gloria is docked at a wharf in Mississippi Sound, not far from the United States’ massive oil reserves in the Gulf of Mexico.
The 820ft (250m) long ship, painted navy and burgundy, is transporting valuable cargo from Venezuela that, just six months ago, would have been impossible to transport to the United States: 400,000 barrels of oil.
Venezuela holds the world’s greatest oil reserves. Oil exports in Venezuela fell considerably under former President Nicolas Maduro due to a lack of investment. The US then imposed restrictions against all imports from the Latin American country.
However, after the US military arrested Maduro in a surprise nighttime assault in January, President Donald Trump pledged to use those reserves.Venezuela’s oil production has resumed. In March, the country’s monthly crude exports exceeded one million barrels per day. First time since September.
As the globe grapples with the impact on global energy prices caused by Iran’s blockade of the Strait of Hormuz, major oil and gas firms such as Chevron are now importing Venezuelan crude oil by shipload. It’s a significant event for Chevron and the entire Gulf region,” says Tim Potter. He is the director of Chevron’s oil refinery in Pascagoula, Mississippi, the company’s largest US facility. It is also the sole major US oil corporation operating in Venezuela.
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