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Chevron has received a restricted license from the U.S. Treasury Department to operate in Venezuela, allowing the company to resume limited oil production and exports from the sanctioned country. The authorization is private and not a general license, according to Venezuelan Interior Minister Diosdado Cabello. Chevron's CEO announced that some Venezuelan crude exports to the U.S. are expected to begin this month. This development opens a narrow path for American oil interests in Venezuela despite ongoing sanctions. Economic analysts from Oxford Economics suggest that the return of foreign oil companies like Chevron could help stabilize the Venezuelan bolívar and reverse the decline in the country's crude oil production.
Reuters | Chevron espera reanudar las exportaciones de petróleo venezolano este mes, afirma su director ejecutivo https://t.co/ERio26CkcP
¿El regreso de Chevron rescatará al bolívar? Oxford Economics cree que sí: estima que la reincorporación de petroleras extranjeras podría frenar la caída de la moneda y revertir la baja en la producción de crudo en Venezuela. https://t.co/6iWexh3LUB 📸: Carlos Becerra/Bloomberg https://t.co/4oWWPx78W4
#Venezuela: Chevron expects its exports of Venezuelan crude to the US to resume this month, the company's chief executive said on Friday, following a restricted license received this week from the U.S. Treasury Department to operate in the sanctioned country and do oil swaps.
