Venezuela's First Oil Shipment: Return to Israel

Historic Oil Shipment from Venezuela to Israel

Venezuela is making its first oil shipment to Israel after years. According to a report by Bloomberg News, this crude oil cargo will be delivered to Bazan Group, Israel's largest crude oil processing company.

Response to Official Statements

Venezuela's Information Minister Miguel Pérez Pirela described this shipment as "fake" in a post on the social media platform X.

U.S. and Venezuela Relations

Earlier this year, after U.S. forces attempted to capture Maduro, former U.S. President Donald Trump announced that he would seize Venezuela's oil sales. These developments are ushering in a significant transformation process in the international oil market.

Israel's Oil Resources

Israel tends to keep its crude oil resources confidential. Tankers may disappear from digital tracking systems as they approach the country's ports. According to Kpler data, this shipment will be the first since mid-2020, during which approximately 470,000 barrels of oil were transported.

Silence from Bazan Group and the Energy Ministry

Known as Oil Refineries, Bazan has refrained from making any statements regarding the matter. Additionally, the Israeli Energy Ministry did not provide any information about oil supply sources.

New Markets and Supply Chain

During Maduro's administration, the majority of Venezuela's oil production was exported to China. However, in the past month, oil shipments to India, Spain, the U.S., and now Israel have gained momentum.