Chevron's first cargo of Venezuelan oil is on its way to the U.S. 

Chevron’s first cargo of Venezuelan crude oil departed from a ship-to-ship transfer near Aruba to a Mississippi refinery after the U.S. government allowed the multinational company to resume trade with the South American country, reports indicate. 

The Venezuelan state-run oil firm PDVSA gave Chevron the first crude oil cargo this month, according to shipping data.

A cargo of around 500,000 barrels of Hamaca heavy crude was transferred from Chevron’s tanker Caribbean Voyager to the Malta-flagged vessel Sealeo. The cargo is expected to arrive at Chevron’s Pascagoula refinery in Mississippi on January 15.

Last November, Chevron was authorized by the U.S. Treasury Department to restart and expand operations in Venezuela as a measure to encourage dialogue between the Venezuelan government and the opposition. 

According to the terms drafted by U.S. officials, Chevron’s operations in Venezuela will prevent PDVSA from benefiting from the American company’s oil sales. 

The Biden administration aims to "shift oil sales from illicit and non-transparent channels to transparent, legitimate channels," a source in Washington said. 

However, the White House said it was prepared to revoke the permissions for oil operations in the country if the Maduro regime fails to uphold its commitments. 

"We have long made clear our willingness to provide targeted relief based on concrete steps that alleviate the suffering of the Venezuelan people and bring them closer to a restoration of democracy," said a spokesperson for the U.S. State department.