U.S. To Extend Chevron-Venezuela Deadline By 30 Days Amid Political Pressures

The U.S. is likely to extend Chevron’s deadline to stop operations in Venezuela by at least 30 days, following lobbying by the company. This extension, discussed in a meeting led by President Trump, aims to pressure the Maduro regime while ensuring that certain revenues go towards funding migrant deportations. Despite tensions regarding deportation flights, Chevron’s role in Venezuela’s oil production remains significant.

The United States government is set to extend the deadline for Chevron Corporation to cease its operations in Venezuela by at least 30 days. This decision follows lobbying efforts from the Texas-based oil company, as reported by sources familiar with the situation. Although U.S. officials have confirmed the extension, they have not specified the exact duration beyond the current deadline, which is due to expire on April 3.

Chevron’s Chief Executive Officer, Mike Wirth, discussed the potential for an extension during a recent meeting with President Donald Trump and other oil industry leaders. President Trump appeared open to this possibility, according to reports from individuals present at the gathering. Meanwhile, a White House spokesperson declined to elaborate on the private discussions regarding Chevron, and representatives from the State and Treasury Departments did not provide immediate comments on the matter.

According to Chevron spokesman Bill Turenne, the company’s executives frequently meet with government officials to discuss issues pertinent to their operations domestically and internationally. Turenne emphasized that Chevron adheres to all applicable laws and sanctions imposed by the U.S. government in its global business practices.

The original deadline set by the Trump administration aimed to exert pressure on President Nicolas Maduro’s authoritarian regime to implement democratic reforms and cooperate in increasing the acceptance of migrants from the U.S. Additionally, it has been reported that one condition for extending the deadline is that revenues from taxes and royalties will aid in funding migrant deportations rather than benefiting the Maduro government.

The Maduro administration had briefly suspended acceptance of U.S. deportation flights in response to actions against Chevron. However, these flights resumed on March 14, as confirmed by Jorge Rodríguez, who is the chief negotiator for the Maduro government. Chevron is a crucial player in Venezuela’s oil production, accounting for approximately 20% of the country’s crude output and a significant share of its hard currency income.

In conclusion, the U.S. government is expected to grant Chevron an extension on its operations in Venezuela, responding to lobbying efforts from the company. This move aims to balance economic interests with political pressure on the Maduro regime. Additionally, it emphasizes the importance of revenue allocation to assist in migrant deportations. The ongoing interactions between Chevron and government officials demonstrate the complexity of U.S.-Venezuela relations in the context of international sanctions and energy production.

Original Source: www.worldoil.com