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US allows Chevron to expand energy operations in Venezuela

 


Washington’s ultimate goal, and that of Venezuela’s often fractured opposition, is to push Mr. Maduro to establish free and fair conditions for the 2024 presidential election. banning many opposition leaders, imprisoning others and co-opting political parties.

Francisco Monaldi, director of the energy program for Latin America at Rice University, said the agreement with Chevron was not just symbolic. Within two years, the company could produce more than 200,000 barrels per day in Venezuela, adding to the roughly 765,000 barrels currently pumped daily, according to Argus, an industry watcher.

The question to watch going forward, he added, is whether other companies will be able to use the Chevron deal to pressure Washington to lift further sanctions on Venezuela.

Current US rules prohibit US and foreign companies from buying Venezuelan oil. But entities like Repsol in Spain and Reliance in India have lobbied Washington for sanctions relief for years, Monaldi said.

It is very difficult to justify the United States telling India not to buy Venezuelan oil when it is buying Venezuelan oil, he said.

While the multi-billion dollar humanitarian aid agreement has yet to be finalized, the Venezuelan government and the opposition signed an agreement on Saturday defining the monitoring framework for this future program. Norway will facilitate this monitoring process.

In a media presentation, Dag Nylander, the head of Norway’s delegation to the meeting in Mexico, said the aid package would help improve the country’s public health system, national electricity system and electricity system. public education, and that it would solve the problems caused by the torrential rains this year.

Julie Turkewitz reported from Bogotá, Colombia, and Zolan Kanno-Youngs from Nantucket, Massachusetts. Isayen Herrera contributed reporting from Caracas, Venezuela.

Sources

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2/ https://www.nytimes.com/2022/11/26/world/americas/venezuela-chevron-oil-us.html

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