Chevron in Venezuela
Chevron gets back to work in Venezuela
But Washington’s apparent detente with Caracas is unlikely to bolster global crude supplies significantly any time soon
Chevron and Venezuela’s state-owned Pdvsa have signed fresh contracts for their joint operations, shortly after the US Treasury Department’s Office of Foreign Assets Control (Ofac) granted the US firm a licence authorising some activities in the sanctioned South American country. Venezuelan petroleum minister Tareck el-Aissami and Javier la Rosa, president of Chevron Venezuela, signed agreements in Caracas in late November “for the continuation of the operations and production activities” of Chevron in Venezuela, state-owned TV channel VTV reported. Chevron, meanwhile, confirms Ofac has granted it a licence that “authorises the production and lifting of petroleum or petroleum products produc
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