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On December 2, 2022, the Peace Monument sculpture was prominently displayed outside the headquarters of Petroleos de Venezuela (PDVSA) in Caracas.
As discussions regarding the oil industry continue, reports indicate that President Donald Trump is contemplating an extension of Chevron’s license to operate in Venezuela. This information comes from sources familiar with the matter, as noted by The Wall Street Journal.
In late February, Trump expressed intentions to overturn a decision made by the Biden administration that had previously allowed Chevron to resume oil production in Venezuela. The U.S. Treasury Department had provided Chevron with a deadline until April 3 to conclude its operations in the country.
However, following a recent meeting with Chevron’s CEO, Mike Wirth, along with other industry executives at the White House, Trump appears to be open to the possibility of extending the license. The administration is also reportedly looking into imposing financial sanctions on nations that maintain business relations with Venezuela.
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Chevron operates in Venezuela in partnership with the national oil company, Petróleos de Venezuela, and holds interests in various oil projects scattered across the nation, both onshore and offshore.
During an interview with CNBC, Energy Secretary Chris Wright refrained from providing specific details regarding what was discussed in the recent meeting with Chevron executives. A spokesperson for Chevron, Bill Turenne, stated that the company’s executives frequently engage with government officials in Washington to discuss matters pertinent to its business operations worldwide. He emphasized, “We do not confirm or comment on those discussions.”
Additionally, Turenne remarked, “Chevron conducts its business globally in compliance with all laws and regulations, including any sanctions frameworks provided for by the U.S. government,” highlighting the company’s commitment to adhering to legal requirements in its operations.
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