Europe is about to receive its first shipments of Venezuelan oil in nearly a year, following worldwide offers made by traders in response to a request from the Trump administration.

The tanker Poliegos is heading to Venezuela to pick up oil and deliver it to a port in Italy, according to a shipping report reviewed by Bloomberg. The cargo is owned by Vitol Group, which, along with Trafigura Group, was asked by the US to facilitate the sale of Venezuelan oil.

Another tanker, named Folegandros, is also scheduled to leave Venezuela for the Mediterranean soon, according to a source familiar with the situation.

Vitol did not provide any comments. The crude oil is expected to arrive in Europe by February and is part of a plan by President Trump to support the Venezuelan economy, which has suffered from decades of poor management, underinvestment, and corruption.

Following the capture of Nicolás Maduro by US forces on January 3, officials from Trump’s administration enlisted Vitol and Trafigura to help sell up to 50 million barrels of oil, with the funds intended for rebuilding the economy.

This will be the first significant visible exports of Venezuelan oil to Europe since April 2025, when a Vitol-backed company, Saras SpA, delivered 1 million barrels of Merey 16 oil to the Sarroch refinery in Italy, according to vessel tracking data compiled by Bloomberg.

Traders are quickly moving Venezuelan oil as the US plans to issue a general license that would ease sanctions, allowing more trading firms and refiners to purchase directly from the state oil company Petroleos de Venezuela SA. So far, Trafigura and Vitol have taken about 12 million barrels of Venezuelan oil in less than three weeks since Maduro’s capture, which is roughly one-fourth of the volumes contracted with the US.

The Poliegos, currently heading to Venezuela, will load 1 million barrels of crude oil by the end of the month and is set to travel to Augusta in Italy.

This port is a key hub for the Mediterranean and is often referenced as a general destination for various ports in the region. It also serves as a gateway for deliveries to Italy’s ISAB refinery and the Sarroch refinery, which is operated by Algeria's state energy company Sonatrach. Sonatrach last purchased Venezuelan oil in 2022.