MOSCOW (Pakistan Point News / Sputnik - 30th November, 2022) American oil corporation Chevron will send the first Venezuelan crude shipments to the US by late December under a license recently issued by the Biden administration, Bloomberg reported on Wednesday, citing sources.
The United States relaxed oil sanctions against Venezuela last week after the Venezuelan government, led by President Nicolas Maduro, and the opposition resumed talks in Mexico City and came to an agreement on addressing the humanitarian crisis in the country. Chevron became the first American oil company to receive permission from the US government to extract oil in Venezuela.
On Tuesday, Venezuelan Oil Minister Tareck El Aissami held negotiations with the president of Chevron's operations in Venezuela, Javier La Rosa, to discuss new contracts related to the joint ventures of Chevron and Venezuelan state-run oil and gas company PDVSA. The contracts are expected to be signed in the coming days.
Chevron and PDVSA have four joint ventures that produced around 200,000 barrels per day of crude oil before sanctions against the Venezuelan government were imposed in 2019.
The US imposed a series of sanctions against Venezuela in 2019, blocking $7 billion worth of PDVSA assets under US jurisdiction. In 2020, Venezuela filed a complaint with the Hague Tribunal against the US restrictions on the country.
