Venezuela Sends First Oil Shipment to Israel After Years of Disruption

SadaNews Economy - Venezuela is sending its first shipment of crude oil to Israel in years, following the resumption of exports from the Latin American country after the capture of its president, Nicolas Maduro.

The shipment is being transferred to "Bazan Group," the largest crude oil processing company in the Mediterranean coastal nation, according to insiders familiar with the deal who requested anonymity as the information is not public.

Earlier this year, U.S. forces captured Maduro, and the Trump administration stated it would take over the management of Venezuelan oil sales.

Israel does not disclose its sources for obtaining crude oil, and sometimes tankers disappear from digital tracking systems as they approach the country's ports.

Upon arrival of the shipment, it will mark the first of its kind since mid-2020 when Israel imported approximately 470,000 barrels, according to Kpler data. "Bazan," also known as "Oil Refineries," declined to comment. The Israeli Ministry of Energy also refused to comment on the sources of the country's crude oil.

This deal is the latest indication of how Venezuelan oil flows are being redirected following the removal of President Maduro from power. Until then, a large portion of the country's production was sold to China. Over the past month, shipments have been sold to buyers in India, Spain, and the United States, and now to Israel.