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November 26, 2022
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US gives Chevron a go-ahead to resume extraction in Venezuela

US gives Chevron a go-ahead to resume extraction in Venezuela

The US government announced this Saturday that it authorizes the oil company Chevron to resume limited operations of extraction of natural resources in Venezuela as a result of the resumption of dialogue between the Venezuelan government and the opposition.

(Read: Minergía presented plan to increase gas and oil reserves).

This measure, according to the Treasury Department, reflects the long-term policy of the United States “to provide targeted sanctions relief based on concrete steps that lessen the suffering of the Venezuelan people and support the restoration of democracy.”

The Treasury Department specified that this authorization prevents the Venezuelan state oil company PDVSA from receive profits from oil sales by Chevron and allows activity related to Chevron’s joint ventures in Venezuela only, not other activities with PDVSA.

Other Venezuela-related sanctions and restrictions imposed by the United States remain in place“, clarified his statement, according to which the country “will vigorously enforce these sanctions and will continue to hold accountable any actor who participates in acts of corruption, violates US laws or abuses human rights in Venezuela.”

From the US Executive, any decision on Chevron had been made contingent on the fact that heThe parties return to the negotiating table and promote other specific commitments in support of the Venezuelan population.

(Also: Ecopetrol sold its first shipment of carbon oil to Europe.)

The political negotiation table between the regime of Nicolás Maduro and the opposition, formally suspended since October 2021 by decision of the Government, settled again this Saturday in Mexico City.

In it they signed the Second Partial Agreement for the Protection of the Venezuelan People, whose main objective is the recovery of state resources of the Caribbean country blocked in the international financial system.

The announcements by the Unitary Platform and the Maduro regime are important steps in the right direction to restore democracy in the country. The United States welcomes and supports the reopening of negotiations as part of our long-term policy of supporting the peaceful restoration of democracy.“added the State Department.

(Read: Venezuela presented Colombian businessmen with a binational economic plan).

The Chevron decision authorizes transactions necessary for certain activities related to the management by Chevron or its affiliates of their joint ventures involving PDVSA or any entity in which PDVSA owns, directly or indirectly, a share of 50% or more.

EFE

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