Chevron operations in Venezuela extended until 2022

The United States Department of the Treasury extended the operations of the companies Chevron Corporation, Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC and Weatherford International, Public Limited Company until June 1st, 2022.

The information was provided through a statement detailing the activities that the companies may carry out: transactions and activities necessary to guarantee the safety of personnel or the integrity of operations and assets in Venezuela; participate in shareholders and board of directors meetings.

Likewise, they will be able to make payments on third-party invoices for authorized transactions and activities of this general license, or incurred before April 21, 2020; payment of local taxes and purchase of public services in Venezuela; and payment of salaries to employees and contractors in the country.

According to the statement, they are authorized until June 1st, 2022 at 12:01 a.m. to make “all transactions and activities prohibited by E.O. 13850, as amended, or E.O. 13884, each one as incorporated in the VSR, which are incidents and are necessary for the liquidation of operations, contracts or other agreements in Venezuela that involve PDVSA or any entity in which it is owner, directly or indirectly”.

Oil exports remain suspended

The statement highlights that activities related to the export or re-export of diluents, directly or indirectly, to Venezuela are not authorized; any loan, additional debt accumulation or subsidy from PDVSA or any entity in which PDVSA owns, directly or indirectly, as well as “any transaction or activity with any blocked person other than the blocked persons identified in this general license a 50 % or more, even in kind”.

M. Rodríguez

Source: finanzasdigital.com