PDVSA Will Not Receive Profits From Oil Sales Under New US License - Senior Official

PDVSA Will Not Receive Profits From Oil Sales Under New US License - Senior Official

Venezuela state oil company PDVSA will not receive profits under a new license issued by the Treasury, instead it will go towards paying off debt to Chevron, a senior US administration official said on Saturday

WASHINGTON (Pakistan Point News / Sputnik - 26th November, 2022) Venezuela state oil company PDVSA will not receive profits under a new license issued by the Treasury, instead it will go towards paying off debt to Chevron, a senior US administration official said on Saturday.

"Under the license, PDVSA will not receive profit from the sale of oil as profits earned will instead go towards repayment of debt to Chevron," the US official said during a conference call.