Venezuela’s oil export data from May 2025 reflects technical developments within the energy sector and geoeconomic trends shaping the international political and economic landscape. At a time when sanctions imposed by the United States have been re-tightened, Venezuela’s ability to maintain its export volume, particularly through its relations with China, is a noteworthy development.
Venezuela’s total exports of crude oil and refined products in May stood at 779,000 barrels per day (bpd), a figure closely aligned with April’s level of 783,000 bpd. However, the most striking aspect is the significant shipment increase to China. Exports to China rose from 521,000 bpd in April to 584,000 bpd in May. This increase is not merely a quantitative shift; it also signals Venezuela’s evolving orientation within the global energy landscape.[1]
In the fall of 2024, the U.S. Department of the Treasury’s decision to terminate temporary licenses for the exports of Petróleos de Venezuela, S.A. (PDVSA) made it more difficult for many Western companies, most notably Chevron, to make direct purchases from Venezuela.[2] This situation has limited PDVSA’s flexibility in Western markets and compelled Venezuela to forge stronger relationships with alternative partners. In this context, China has emerged as the primary actor stepping in.
However, interpreting this shift merely as a trade necessity would be an incomplete assessment. The evolving energy cooperation between China and Venezuela extends beyond commerce and rests on strategic and technological foundations. In pursuit of energy security, China has been making long-term investments in raw material sources across Latin America. Venezuela, in turn, regards these investments as a lever for economic recovery and financial stability.
Although Venezuela’s pivot toward China is often interpreted in foreign policy circles as a form of “sanctions evasion,” the relationship is better understood within the framework of mutual benefit. China has the infrastructure to refine Venezuela’s heavy crude oil, particularly Boscan type, and has been purchasing these products for many years, even providing financial support. The technical assistance, transport infrastructure, and refinery partnerships offered by China have contributed to the sustainability of Venezuela’s production chain.
A contract-based, long-term stability orientation with minimal political interference generally characterizes China’s approach to oil trade. This presents a significant advantage for Venezuela, which struggles with internal political instability. In this respect, China maintains its identity as a “reliable partner” in energy supply, despite broader geopolitical risks.
As of May 2025, PDVSA continues to export specific volumes of oil to other Asian countries, including India and Malaysia, besides China.[3] However, many purchases in countries like India and Malaysia are facilitated through China-centered trade networks. For instance, transactions conducted via Singapore-based companies have indirectly increased the circulation of Venezuelan oil in international markets. This indicates that China is functioning as a direct buyer and a regional energy distribution hub.
In this context, China’s relationship with Venezuela can be viewed as an economic arrangement and a geostrategic investment. As one of the leading actors of the Global South, China is expanding its influence in Latin America and employing energy diplomacy as a key instrument in this process. The ongoing energy cooperation with Venezuela may also be interpreted as part of China’s broader “Belt and Road” vision in the Latin American region.
The implications of these developments are expected to extend beyond the China-Venezuela axis, impacting the international landscape as well. The United States’ strategy of economic contraction through sanctions has not curtailed PDVSA’s exports to the anticipated extent; on the contrary, it has facilitated the emergence of new supply routes. China’s constructive and inclusive approach in this process has contributed to forming alternative norms in global energy trade.
Other countries in the region are closely monitoring China’s relationship with Venezuela. Nations such as Brazil, Argentina, and Mexico view China’s investments from an economic and diplomatic perspective, while simultaneously seeking to safeguard their own national interests. This signals the beginning of a new era of multidimensional, energy-centered diplomacy in Latin America.
Venezuela’s energy-based relationship with China is not limited to the export of raw materials. Chinese companies have invested in oil extraction and processing technologies within Venezuela, helping PDVSA maintain its production capacity and modernize its refining systems. In particular, China’s provision of low-interest loans and equipment support carries the potential to accelerate Venezuela’s technological transition for processing heavy crude. In this respect, the energy partnership is economic and functions as an infrastructure policy geared toward development.
Venezuela’s shift toward energy exports to China is also significant in the context of international law and energy security. In an environment shaped by U.S. sanctions, where several Western companies have withdrawn, China’s ability to fill the resulting gap demonstrates the emergence of multilateral alternatives to unipolar structures in energy supply. Venezuela’s increase in oil exports to China in May 2025 is not merely a trade statistic but a strategic indicator of the ongoing transformation in energy diplomacy within the international system. China’s role in this process has evolved as a partnership based on mutual interests and technical compatibility.
Should this cooperation deepen in the coming months, it may contribute to Venezuela’s economic recovery and the coherence of China’s broader energy security strategy. These developments have the potential to foster greater diversification and multipolar cooperation in global energy trade.
[1] “Venezuela’s Oil Exports Stable as Buyers in China Receive More”, Reuters, www.reuters.com/business/energy/venezuelas-oil-exports-stable-buyers-china-receive-more-2025-06-03/, (Accessed on June 8, 2025).
[2] Ibid.
[3] Ibid.
