With this, the Trump administration authorizes the U.S. oil company to continue to operate in this South American nation until April 22, 2020.
Chevron is a minority partner in Petropiar and Petroindependencia, a joint venture in the Orinoco Belt; as well in Petroboscán and Petroindependiente in the country’s western region.
The U.S. Department of the Treasury has previously extended the license on at least two occasions since July 2019.
The United States sanctioned state-owned Venezuelan oil company PDVSA in 2019 in an attempt to force Maduro out from power.
However, it granted Chevron Corp a six-month license to operate, which has been extended on two separate occasions for three-month periods.
General license number 8E on Chevron’s operations in Venezuela was published on Saturday.
The document reads: “This general license does not authorize any exportation or reexportation of diluents from the United States to Venezuela.”
we’re excited to lend our experience with hydrogen to the @hydrogencouncil. we believe hydrogen could play a role in a lower-carbon future as fuel, industrial feedstock, and energy storage – learn more: https://t.co/TKjbslNJEM
— Chevron (@Chevron) 16 de enero de 2020
Similarly, the Department also renewed licenses for three months until April 22 for service companies Halliburton Co (HAL.N), Schlumberger (SLB.N); Baker Hughes (BKR.N), and Weatherford International.
The U.S. Treasury Department also issued another license, the 5B. This license authorizes transactions related to PDVSA’s 2020 bond after April 22 of this year, which is backed by Citgo Petroleum Corp shares, owned by PDVSA.
División Mejoramiento de la FPO supera sanciones de Estados Unidos.
— PDVSA (@PDVSA) 18 de enero de 2020
In this way, it freezes any actions the bondholders may take against Citgo, prior to the date or for three months.
For more information, check Energía16