Venezuelan oil shipped to Israel for first time since 2020
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Traders are shipping Venezuelan crude oil to Israel for the first time in years, marking a shift in the country’s export flows after the removal of President Nicolas Maduro, according to people familiar with the matter.
The cargo is being sent to Bazan Group, Israel’s largest crude oil processor, the sources said, requesting anonymity because the deal is not public.
When the shipment arrives, it will be the first delivery of Venezuelan oil to Israel since mid-2020, when about 470,000 barrels were imported, according to data from Kpler.
The development follows a decision by the Trump administration to take control of Venezuela’s oil sales indefinitely after the capture of Maduro earlier this year. The administration appointed traders to manage the initial sales as exports reopened.
Venezuelan Information Minister Miguel Pérez Pirela rejected reports that the country was sending oil directly to Israel. In a post on X, he said Venezuela works with commodities traders for the sale of its crude and does not control where the oil is ultimately shipped. He described claims that Venezuela was exporting oil to Israel as “FAKE!”
Israel does not publicly disclose the sources of its crude oil imports. Tankers bound for Israeli ports have also been known to disappear from digital tracking systems as they approach the country.
Bazan Group, also known as Oil Refineries Ltd, declined to comment on the shipment. Israel’s energy ministry also declined to comment on the origin of the crude.
Previously, much of Venezuela's crude was sold to China. In recent weeks, Venezuelan cargoes have also been sold to buyers in India, Spain, and the United States, with Israel now added to the list.
