Venezuela announces the signing of contracts with Chevron

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Caracas (EFE), the company will be able to resume limited resource extraction operations.

Through social networks, El Aissami reported a “successful working meeting” with the president of Chevron Venezuela, Javier La Rosa, and recalled that in 2023 the company will celebrate 100 years of activity. in the country.

“In the next few hours, we will sign the contracts to promote the development of mixed companies and oil production, as we have always done, under the terms established by the Constitution and other Venezuelan laws,” the official said at the bottom. photos. which showed his encounter with La Rosa.

The minister added that after the signing of these agreements, of which no details are known, it will be time to “produce”, after closing October with 717,000 barrels per day (bpd), far from the government’s target. which expects to end the year with two million crude oil per day.

Authorization in Venezuela

The United States explained on Saturday that the authorization prevents Venezuela’s state-owned company PDVSA from collecting profits from Chevron’s oil sales and allows the American company’s joint venture activities in the Caribbean country, not to other activities with PDVSA. .

According to the Treasury Department, this measure reflects the long-term policy of the United States “to provide targeted sanctions relief based on concrete measures that alleviate the suffering of the Venezuelan people and support the restoration of democracy”.

From the US executive, any decision on Chevron had been submitted to the government of Nicolás Maduro and the opposition returning to the negotiating table in Mexico, which materialized last Saturday when they agreed to release money from Venezuela abroad to increase social investment.

Chevron welcomes US decision

US oil company Chevron said the license it received from the US to operate in Venezuela added transparency to that country’s oil sector.

“We reiterate our commitment to conduct our business in accordance with the established framework,” the company said in a brief statement shortly after Washington cleared it to resume limited natural resource extraction operations following the resumption of dialogue. between the Venezuelan government and the opposition.

Chevron has confirmed that it has received this permit, which gives the green light for the production and extraction of petroleum or petroleum products produced by joint ventures with the Venezuelan state company PDVSA, and to carry out the necessary management and maintenance tasks. for these companies.

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