This transnational corporation plans to expand its role in four joint ventures it shares with state-run company Petroleum from Venezuela (PDVSA) and organize a trading team to market the Venezuelan oil under the authorization of the U.S. government.
These measures will revitalize Venezuela's oil sector, whose production reached a value of 2.3 million BPD in 2016 but has been declining permanently due to the U.S. blocked.
U.S. officials have made it clear that any authorization will depend on whether Venezuela's President Nicolas Maduro agrees to political concessions such as setting a date for resuming negotiations with the opposition.
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March 8, 2022
Vice President Delcy Rodriguez welcomed the possibility of reestablishing oil trade with the U.S., but emphasized that Washington must respect her country's sovereignty in order to normalize bilateral economic relations.
"We are ready to engage in an open, diplomatic, and respectful dialogue with the United States for the benefit of both countries,” she stressed. Before the U.S. imposed sanctions, Chevron's joint ventures with PDVSA had produced about 200,000 BPD.
Although a date has not been set for the U.S. to issue the authorization, this company has already began preparations so that its employees get Venezuelan visas in Aruba and travel to negotiate the enhancement of the operations.
#Video: #Russia has continued to send humanitarian aid to the conflict-affected regions of #Ukraine. Efforts to end the conflict are ongoing, but another round of talks recently ended without agreement, the Ukrainian President is expected to address the US Congress on Wednesday. pic.twitter.com/Ezw12pjdvr