U.S. prepared to authorize Chevron to boost Venezuela's oil output
21 Articles
21 Articles
U.S. grants Chevron license to pump oil in Venezuela
Under a new Treasury Department license, it will be able to resume pumping oil. The limited license stipulates that any oil produced can only be exported to the United States. No profits from its sale can go to the Venezuelan company but must be used to pay off Venezuelan creditors in the United States.
U.S. Eases Sanctions on Venezuela With Chevron Resuming Oil Output
The Biden administration granted oil giant Chevron Corp. a license to resume oil production in Venezuela after U.S. sanctions halted all drilling activities almost three years ago.The reprieve coincided with the resumption of talks by Venezuela’s battling political factions on Saturday with a deal to work together on a humanitarian spending plan.Chevron received a six-month license that authorizes the company to produce petroleum or petroleum pr…
Biden Admin Authorizes Chevron to Resume Oil Pumping in Venezuela
The Biden administration on Saturday authorized Chevron Corp.’s joint venture to resume oil pumping in Venezuela. “The Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela General License (GL) 41, authorizing Chevron Corporation to resume limited natural resource extraction operations in Venezuela,” the Treasury Department said in a statement. The goal of the authorization is to “alleviate the suffering of the Ve…
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