U.S. prepared to authorize Chevron to boost Venezuela's oil output

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.

US scales down sanctions on Venezuela, enabling US oil giant Chevron pump oil

Move comes after agreement between Venezuelan government, opposition - Anadolu Agency

U.S. gives Chevron go ahead to pump oil in Venezuela again

The license signals an opening for other oil companies to resume their business in Venezuela.

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…

Chevron to Resume Venezuela Oil Output as US Eases Sanctions

(Bloomberg) — The Biden administration granted Chevron Corp. a license to resume oil production in Venezuela after US sanctions halted all drilling activities almost three years ago.

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…