Another supertanker, Olympic Lion, was signaling Venezuela as its destination this week with the expected arrival in late March, according to LSEG ship tracking. U.S. oil major Chevron sold its first cargo of Venezuelan crude to India's Reliance Industries since December 2023, according to shipping data and two sources. The Boscan crude cargo, expected to be shipped on the Ottoman Sincerity vessel, marks the first sale of the heavy oil in about six years. India was the third-largest buyer of Venezuelan crude before Washington imposed sanctions in 2019. The new authorization is expected to progressively expand the pool of buyers and the cargoes' destinations.

Source: The Telegraph February 25, 2026 10:01 UTC