The U.S. plans to extend Chevron’s deadline to cease operations in Venezuela by at least 30 days, following lobbying by the company. This aligns with U.S. pressure on the Maduro regime for democratic reforms and the handling of migrant issues. A key condition for the extension is the allocation of taxes and royalties to aid U.S. deportation efforts instead of funding the Maduro government.
The U.S. is reportedly set to extend Chevron Corporation’s deadline for ceasing operations in Venezuela by at least 30 days. This decision follows lobbying by Chevron, which is based in Texas. Officials have indicated that the company will have additional time to conclude its dealings with Petroleos de Venezuela SA, although no specific duration has been provided yet.
During a recent meeting with President Donald Trump and fellow oil executives, Chevron’s CEO Mike Wirth suggested a potential deadline extension. Trump appeared open to this idea, highlighting the ongoing dialogue between Chevron and government officials.
The White House has refrained from commenting on the specifics following private discussions with the president. Additionally, representatives from the State and Treasury Departments have not responded to requests regarding this matter.
Chevron’s spokesperson Bill Turenne stated that the company actively engages with officials in Washington on business-related issues while adhering to all legal frameworks, including U.S. sanctions. Previously, the Trump administration imposed this deadline to pressure Nicolás Maduro’s regime to pursue democratic reforms and accept more migrants from the U.S.
One stipulation for the extension is that taxes and royalties collected will be directed toward funding migrant deportations, not supporting the Maduro regime. Recently, the Maduro government paused acceptance of U.S. deportation flights in response to the Chevron deadline but resumed on March 14 under negotiations led by Jorge Rodríguez, Maduro’s chief negotiator.
Chevron accounts for approximately 20% of Venezuela’s crude production, significantly contributing to the country’s foreign currency income.
The decision to extend Chevron’s deadline highlights the U.S. government’s strategy to balance economic interests while pressuring the Venezuelan regime for democratic change. Furthermore, ensuring that proceeds from Chevron’s operations support U.S. migration policies rather than the Maduro administration signifies the intricacies of international business in politically charged environments.
Original Source: www.worldoil.com
