US EditionChevron in Talks with Trump Administration for Expanded Venezuela Oil License
Chevron aims to increase Venezuelan crude exports to the US and other buyers under expanded license amid negotiations for up to 50 million barrels, boosting US energy ties.
- On Jan 7, Reuters reported Chevron is negotiating with the U.S. government to expand its Venezuela licence to boost crude exports as Washington and Caracas discuss supplying up to 50 million barrels, while PDVSA expects similar commercial terms to Chevron's joint venture.
- Trump administration licence restrictions reduced Chevron's U.S. exports to 100,000 bpd in December, depriving PDVSA of proceeds meant for U.S.-overseen accounts, while Washington urges Valero Energy, Exxon Mobil and ConocoPhillips to re-engage.
- Potential sales would total more than $2 billion at Wednesday's close, and President Donald Trump announced roughly $2.8 billion on Jan 6, while former PDVSA partners and an Indian refiner explore loading inquiries.
- The U.S. boarded and seized two Venezuela-linked tankers while saying the oil embargo remains in force, and officials said restarting sales would help PDVSA drain inventories with proceeds held in U.S.-overseen accounts amid political pressure from President Donald Trump.
- Vice President JD Vance said Washington will use control over Venezuelan energy revenues as leverage, offering economic influence without a long-term military commitment, while President Donald Trump said Venezuela will buy American products.
63 Articles
63 Articles
Vance Says Venezuela Can Sell Oil Only If It Serves US Interests
U.S. Vice President JD Vance said the United States will allow Venezuela to sell oil only if those sales advance U.S. national interests, describing Washington’s emerging energy policy toward the country as a tool of diplomatic leverage that avoids military entanglements and does not endanger any American lives. In a Jan. 7 interview on Fox News’ “Jesse Watters Primetime,” Vance said U.S. control over Venezuelan energy revenues would give Washin…
US energy secretary vows to sell Venezuelan oil ‘indefinitely’
The US energy secretary said Washington will sell Venezuelan oil “indefinitely,” further cementing the outsize control the White House plans to have over Caracas’ economy. In the days since it captured Venezuela’s leader, the US has said the South American country will hand over crude worth about $3 billion. Washington is also reportedly discussing plans to partially take over Venezuela’s state-owned oil company, and will host American oil execu…
Venezuela's PDVSA says oil supply negotiations with US progressing
Venezuela's state-run oil company PDVSA said on Wednesday it is progressing in negotiations with the United States for oil sales, as a board member for the company told Reuters the U.S. will need to buy cargoes at international prices.
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