US to ease sanctions against Venezuela-Chevron CEO
2022.12.01 14:28
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US to ease sanctions against Venezuela-Chevron CEO
Budrigannews.com – “Approval of Chevron Corporation NYSE”: In the United States, According to Vice President Michael Witt, the expansion of oil production in Venezuela is unlikely to lead to additional investments of the company in South America in the next six months.”
In the administration of President Joe Biden, Chevron was granted a six-month license to increase oil production and increase Venezuela’s operations. Until further progress is made in the negotiations between the government of Socialist President Nicolas Maduro and the country’s opposition parties, he has banned the payment of funds to Venezuela.
On Thursday, speaking at the Economic Club in New York, Wirth said that Washington will gradually be able to ease sanctions on Venezuela and give Chevron more freedom to work in this country. The last largest American oil plant in Venezuela is Chevron (Chevron), which owes more than $3 billion in debt, dividends on joint ventures and the state oil company PDVSA (PDVSA).
In any case, he added that “Over the next six months, we are unlikely to invest in drilling campaigns that will increase production volumes. In order for us to be able to move on this path, we need to do a big thing.
The Biden administration decided to “ease the sanctions imposed by the Trump administration,” noting that the sanctions did not completely stop the export of Venezuelan companies. He said, “The main effect is that it allows some of Venezuela’s oil to return to the U.S., helping the U.S. refining system systems.”
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