Energy & Climate
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31 January 2026
Main image: Maracaibo lake has one of the largest oil reserve in Venezuela
Europe is poised to help US firms profit from Venezuelan oil, having last year imported over half a billion dollars’ worth of diesel from the USA’s leading refiner of Venezuelan oil, according to analysis by Global Witness.
After reviewing customs and shipping records, investigators from Global Witness found that European countries imported diesel worth at least $565 million from the St. Charles refinery in Louisiana, run by Valero.
Key markets were the Netherlands and the UK; in 2025 they received at least $256 and $219 million worth (respectively) of the refinery’s diesel.
It is likely that a large portion of St. Charles’ diesel imported to Europe was made from Venezuelan oil. According to shipping records, in 2025 over 40% of the oil imported by ship to St. Charles came from Venezuela. Last year the US refinery was central to Venezuela’s oil exports, taking by far the largest share of the country’s oil of any US refinery.
The refinery is owned by a company called Valero; its stock jumped 10% following the US attack on Venezuela. The firm also owns multiple refineries that, like St. Charles, can process the type of oil Venezuela produces and early on took advantage of the US power grab, agreeing to buy Venezuelan oil seized by the US.
Global Witness has approached Valero for comment but has not received a response.
Campaigners say the research highlights Europe’s complicity in the USA’s illegal seizure of Venezuelan assets, and are calling for firm measures to discourage companies profiting from US-controlled Venezuelan oil.
‘Europe imposed sanctions on Russian oil in the face of Putin’s war on Ukraine and has now condemned the US’ ‘new imperialism’. Yet so far, no European leader has taken firm steps to end our complicity in Trump’s nakedly colonial plunder of Venezuela.
‘It’s time European leaders put their money where their mouth is and banned the import of Venezuelan oil while it is controlled by America and American companies like Valero. Venezuelan people must have control and oversight of their own assets – and Europe must show it stands for sovereignty, freedom and peace, everywhere.’
JONATHAN NORONHA-GANT
Senior investigator at Global Witness
The value of Europe’s St. Charles imports may be even higher. Global Witness analysis is based on US customs records listing St. Charles. Separate shipping records show additional tankers travelling between the refinery and Europe, but the volumes and values of these shipments could not be quantified.
It is also likely that the percentage of St. Charles’ crude oil consumption from Venezuela is different. Records show that St. Charles’ oil comes from facilities where crude from various countries is transferred to smaller boats, meaning some Venezuelan oil may not be counted.
Records also only show volumes of oil sent to St. Charles by oil tanker, and do not include oil received by the pipeline connecting the refinery to US rigs in the Gulf.
Even if St. Charles operated at full capacity every day last year – which is unlikely – 12% of the oil it consumed would have come from Venezuela.
The UK is tightly connected with Valero, the firm who runs the St. Charles refinery. The Texas-based firm also operates across the UK. Britain’s Texaco petrol stations are run, under licence, by Valero. The company also runs a large import terminal and a refinery in Wales.
Despite the UK and EU’s strong connections to Valero and its trade in Venezuelan oil, Europe has been largely silent on the USA’s recent Latin American power grab.
On 21 January a tanker carrying over 280,000 barrels of diesel left St. Charles refinery headed for Belgium. Global Witness’ campaigners highlight the need for urgent action from Europe’s leaders.
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