US allows Chevron to resume limited oil extraction in Venezuela-
– The United States allowed the country’s oil giant Chevron Corp. on Saturday to resume “limited” extraction of natural resources in Venezuela and export Venezuelan oil, after the Venezuelan government and the opposition alliance reached an agreement to break the political deadlock.
Chevron has received a six-month license authorizing the California-based driller to resume oil production. It was also allowed to import Venezuelan oil into the United States again.
However, the newly issued permit, known as General License 41, prevents Venezuela’s state oil company PDVSA from profiting from Chevron’s oil sales, according to the Treasury Department.
A senior US administration official told reporters at a briefing that “the proceeds will go towards repaying the debt to Chevron.”
The Treasury Department said that other Venezuela-related sanctions and restrictions imposed by the United States are still in place.
The United States issued the license the same day that Venezuela and the opposition coalition Plataforma Unitaria began political talks in Mexico City, where both sides agreed to make efforts to address the social and humanitarian problems of the Latin American country, and to continue talks related to the elections. 2024.
Washington’s recent actions, including a push for talks between the political factions in Venezuela and repeated signs of easing sanctions, have led to speculation that it wanted to increase output of Venezuelan oil to reduce high energy prices that have been hitting American consumers.
The senior administration official denied this, saying that Chevron extracting oil from Venezuela “is not something that is going to affect international oil prices.” ■