Chevron will be able to restart operations on the condition that it does not pay royalties or taxes to the Venezuelan government.

On Thursday, The Wall Street Journal revealed that President Donald Trump is on the verge of authorizing Chevron to resume oil-pumping operations in Venezuela.

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While the details of the agreement have yet to be disclosed, the authorization comes just days after the release of 10 American criminals who had been detained in the South American country.

“Chevron conducts its business globally in compliance with laws and regulations applicable to its business, as well as the sanctions frameworks provided for by the U.S. government, including in Venezuela,” said Chevron spokesperson Bill Turenne, as reported by World Oil.

Apparently, the agreement between the U.S. government and Chevron would allow the company to restart operations on the condition that it does not pay royalties or taxes to the Venezuelan government led by President Nicolas Maduro.

The text reads, “Trump authorizes Chevron to continue extracting oil in Venezuela. The failed opposition, which always rejoices in the bad things that happen to us, goes from defeat to defeat. They cannot and will not be able to impose their narrative against Venezuela. Venezuela: 1000, Failed opposition: 0.”

Earlier this year, Trump revoked Chevron’s license to pump oil in Venezuela, a license that had been granted during President Joe Biden’s administration.

That decision drew criticism even from some of Trump’s own supporters, including Laura Loomer, who warned that the policy would hand Venezuela’s oil fields over to China and undermine U.S. energy influence in the region.

This same argument has been made for some time by senior Chevron officials and has resonated with members of the Trump administration.

In June, Venezuelan oil production remained largely unchanged, fluctuating between 900,000 and 1 million barrels per day, according to the latest data from the Organization of the Petroleum Exporting Countries (OPEC). This occurred as American companies scaled back their operations in the South American nation.

teleSUR/ JF

Sources: WSJ – World Oil – El Unviersal

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