U.S. Considers Limited Approvals for Chevron, PDVSA Partners Amid Maduro License and Regime Funding Restrictions

The U.S. government is considering granting limited approvals for foreign oil companies, including Chevron, to operate in Venezuela alongside the state-owned oil company PDVSA. These potential authorizations are under review by the U.S. Treasury and State Departments following recent discussions about issuing fresh licenses to allow operations in the sanctioned South American country. Venezuelan President Nicolás Maduro confirmed that Chevron has received a license to resume oil extraction in Venezuela. However, U.S. officials emphasize that their policy is to prevent petroleum revenues from financing or benefiting Maduro's regime. Natalia Molano, spokesperson for the U.S. Department of State, reiterated that the United States will not facilitate resources to the Venezuelan government through these approvals.