Chevron will be able to operate in Venezuela until April 2025

Chevron’s operations in Venezuela will be able to continue until April 2025 after the United States Department of the Treasury, through the Office of Foreign Assets Control (OFAC), renewed General License 41 that authorizes said activity.

Thus, the oil company Chevron has permission to carry out operations in Venezuela until the stipulated date, through automatic renewal.

José Ignacio Hernández, a lawyer and university professor, stated on his account on the social network X on October 1: “Today, General License 41, which authorizes Chevron to carry out oil activities, was automatically renewed. Despite the prohibitions, the company appears to pay royalties and taxes to the Maduro government. Without transparency.”

The license authorizes Chevron to “extract oil and its derivatives, market crude oil only in the United States, but cannot sell or export that oil to other jurisdictions outside the North American country.”

General License 41 also authorizes “activities related to Chevron’s joint ventures in Venezuela only, and does not authorize other activities with Pdvsa.”

What this license does authorize are the transactions necessary for “certain activities linked to both companies or any entity in which Pdvsa has, directly or indirectly, a participation of 50 or more.”

M.Pino

Source: quepasa

(Reference image source: Luis Ramirez in Unsplash)

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