Venezuela converts tankers into floating storage due to US naval blockade

Venezuela’s state oil company PDVSA is forced to use tankers as temporary storage for oil and fuel oil. The decision was made due to the critical filling of onshore tanks, caused by increased sanctions pressure from the United States. This is reported by Reuters, writes UNN.

DetailsThis month, the US Coast Guard detained the tankers Skipper and Centuries, loaded with Venezuelan oil, in the Caribbean Sea. Washington’s actions, as part of the blockade of sanctioned vessels announced by Donald Trump, forced many shipowners to refuse to work with Caracas. 

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As a result, more than ten cargoes were stuck in Venezuelan waters, unable to depart for their destinations.

Overflow of onshore terminalsVenezuela produces about 1.1 million barrels of oil per day. The main Jose terminal, which receives heavy oil from the Orinoco belt, has almost exhausted its free capacity. According to Kpler, total oil inventories in the country reached 22 million barrels in December – the highest level since August 2025.

Distribution of export flowsThe situation in the country’s regions is uneven:

• Western region: thanks to Chevron, which continues to export jointly produced oil, inventory levels remain within normal limits.
• Orinoco Belt: PDVSA independently controls 75% of production in this region, the vast majority of which (about 80%) is usually exported to China. It is these volumes that are now blocked due to the impossibility of safe chartering of vessels.

The use of tankers as floating warehouses is a forced step that PDVSA has already taken before to avoid a complete shutdown of wells and a reduction in production.

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