U.S. issues expanded license to allow Chevron to import Venezuelan oil

[libertybele]

U.S. issues expanded license to allow Chevron to import Venezuelan oil

Chevron Corp on Saturday received an expanded U.S. license allowing the second-largest U.S. oil company to resume production in Venezuela and to import the South American country's crude into the United States.

The decision allows Chevron to revive existing oil projects in the U.S.-sanctioned country and bring new oil supplies to refiners in the United States. However, it restricts cash payments to Venezuela, which could reduce the amount of oil available to Chevron.

License terms are designed to prevent Venezuelan state-run oil firm PDVSA from receiving proceeds from Chevron's Venezuelan petroleum sales, U.S. officials said. The license lasts for six months and will be automatically renewed monthly thereafter, according to the U.S. Treasury................

https://www.reuters.com/business/energy/us-issues-expanded-license-allow-chevron-import-venezuelan-petroleum-2022-11-26/

[Fishrrman]

Why Venezuela?

I sense this is being done to funnel cash into the communists' coffers, as much as to alleviate petroleum shortages here...

[libertybele]

Why Venezuela?

I sense this is being done to funnel cash into the communists' coffers, as much as to alleviate petroleum shortages here...

Pretty much the way I see it as well.

[mountaineer]

julieturkewitz
@julieturkewitz
🧵JUST IN. The U.S. has granted a new license to Chevron, allowing it to expand ops in Venezuela. This could represent a step toward allowing Vzla to re-enter the internat'l oil market, something Maduro desperately needs to improve the economy.
Some caveats/explanation below...

12:45 PM · Nov 26, 2022

julieturkewitz
@julieturkewitz
Second, the United States is granting Chevron permission to expand ops in Venezuela — a chip for Maduro — only after Maduro agreed that up to $3 billion in state funds could be transferred to humanitarian fund by the United Nations.
12:49 PM · Nov 26, 2022

Oh, whoop-de-doo, more money for the U.N.