The U.S. is set to extend Chevron’s deadline to stop operations in Venezuela by at least 30 days, influenced by lobbying from the oil company. The deadline’s extension aims to pressure the Maduro regime for democratic reforms and is contingent upon ensuring that associated taxes and royalties aid U.S. migrant deportations. Chevron plays a pivotal role in Venezuela’s crude production and generating hard currency.
The United States government is expected to extend Chevron Corporation’s deadline to cease its operations in Venezuela by a minimum of 30 days, influenced by lobbying efforts from the Texas-based oil firm. Sources reveal that U.S. officials have indicated Chevron will receive additional time beyond the April 3 deadline to conclude its operations with Venezuela’s state oil company, Petroleos de Venezuela SA, although the exact duration remains unspecified.
During a recent meeting with President Donald Trump and fellow oil executives, Chevron’s CEO, Mike Wirth, proposed the idea of extending the deadline, which was met with a positive reception by the president, according to knowledgeable insiders. A White House spokesperson refrained from commenting on the specifics of the discussions between the president and Chevron executives, stating that there were no new announcements regarding the company at this time.
Chevron consistently engages with government officials in Washington to address various business-related issues both domestically and overseas, affirming compliance with all laws, regulations, and sanctions mandated by the U.S. government, as stated by Chevron spokesman Bill Turenne. Notably, the Trump administration established the original deadline to exert pressure on President Nicolas Maduro’s regime, prompting demands for democratic reforms and a more favorable stance on accepting migrants from the U.S.
An essential condition for the extension of the deadline involves ensuring that taxes and royalties collected from Chevron’s operations benefit migrant deportation efforts rather than the Maduro administration. Following the issued deadline, the Maduro administration had briefly suspended acceptance of U.S. deportation flights as a retaliatory measure; however, flights resumed on March 14, as confirmed by Jorge Rodríguez, Maduro’s chief negotiator.
Chevron is responsible for approximately one-fifth of Venezuela’s crude production and plays a critical role in generating the country’s hard currency, which is vital amid its ongoing economic challenges.
In conclusion, the anticipated extension of Chevron’s deadline signifies a crucial maneuver by the U.S. government, motivated by both lobbying from Chevron and strategic geopolitical considerations regarding Venezuela. This extension not only impacts the oil giant’s operations but also bears implications for Venezuela’s economic state and the ongoing negotiations surrounding migration and democratic reforms.
Original Source: www.worldoil.com
