The U.S. intends to extend Chevron’s deadline to cease operations in Venezuela by at least 30 days, following lobbying efforts. Chevron will receive additional time to conclude its dealings with Petroleos de Venezuela SA. The extension aims to encourage President Maduro to pursue democratic reforms, with conditions linked to migrant deportation funding.
The U.S. government is reportedly set to extend Chevron Corporation’s deadline to cease its operations in Venezuela by at least 30 days. This decision follows lobbying efforts from Chevron, a Texas-based oil company, and comes as U.S. officials indicated more time will be allocated for Chevron to finalize its operations with Venezuela’s state-owned oil firm, Petroleos de Venezuela SA. Exact details on the new deadline have not yet been disclosed.
During a recent meeting with President Donald Trump, Chevron CEO Mike Wirth discussed the potential for an extension. Trump expressed a willingness to consider this proposal, according to sources familiar with the conversation. However, a White House official has not provided any specifics regarding the discussions or announced any new developments regarding Chevron’s situation.
Chevron’s public relations represent that the company regularly engages with government officials to address business matters in the U.S. and abroad. The spokesperson, Bill Turenne, emphasized that Chevron adheres to all applicable laws, including U.S. sanctions. This recent deadline was introduced to incentivize Venezuelan President Nicolas Maduro to implement democratic reforms and facilitate increased migration to the U.S.
As a condition for this extension, it has been suggested that taxes and royalties should support the costs associated with migrant deportations rather than benefitting the Maduro regime. Despite the tension surrounding these developments, the Maduro government has resumed accepting U.S. deportation flights after an initial halt.
Chevron plays a crucial role in Venezuela’s economy, responsible for approximately 20% of the nation’s crude oil production and accounting for a substantial share of its hard currency revenues.
In conclusion, the U.S. is poised to extend Chevron’s deadline for halting operations in Venezuela by at least 30 days amid lobbying efforts. This extension is aimed at pressuring the Maduro regime for democratic reforms. The extension conditions suggest that financial contributions from Chevron should aid migrant deportation efforts rather than support the current government. The situation remains dynamic as Chevron’s significant role in Venezuela’s economy is reaffirmed.
Original Source: www.worldoil.com
