U.S. Expected to Extend Chevron’s Deadline for Venezuela Operations

The U.S. is poised to extend Chevron’s deadline to cease operations in Venezuela by at least 30 days, following lobbying efforts. Chevron’s CEO raised the extension issue during a meeting with President Trump. The extension requires financial contributions for migrant deportations instead of benefiting the Maduro regime.

The United States is reportedly set to extend Chevron Corporation’s deadline for halting its operations in Venezuela by at least 30 days, following lobbying efforts from the oil company. U.S. officials have communicated to Chevron that it will receive additional time to conclude its business with the state-owned Petroleos de Venezuela SA beyond the initial April 3 deadline, although the exact extension remains unspecified.

During a recent meeting with President Donald Trump and other oil executives, Chevron CEO Mike Wirth discussed the possibility of an extension. Trump reportedly showed openness to this idea, indicating potential flexibility in the timeline for Chevron’s operations in the country.

While a White House spokesperson declined to elaborate on the president’s discussions, Chevron’s spokesman, Bill Turenne, affirmed the company’s commitment to engaging with government officials on business-related matters. Turenne confirmed that Chevron operates in compliance with U.S. laws and sanctions.

This extension is part of the Trump administration’s broader strategy to pressure the Maduro regime for democratic reforms and an increased acceptance of migrants. As a condition for the extension, any payments made in taxes and royalties must be directed towards funding migrant deportations, rather than benefiting the Maduro administration.

The Venezuelan government had temporarily suspended acceptance of U.S. deportation flights in response to the pressure against Chevron, but the flights resumed on March 14, according to statements from Jorge Rodríguez, Maduro’s chief negotiator. Chevron plays a critical role in Venezuela’s oil production, contributing approximately 20% of the nation’s crude output and a significant share of its foreign currency revenue.

In summary, the United States government is likely to grant Chevron a 30-day extension on its Venezuela operations, amid lobbying efforts. The move aims to maintain pressure on Nicolás Maduro’s regime for democratic reforms while addressing migrant issues. Chevron’s significant involvement in Venezuela’s oil sector underlines its importance within the country’s economy.

Original Source: www.worldoil.com