The U.S. plans to extend Chevron’s deadline to cease operations in Venezuela by at least 30 days, influenced by lobbying efforts. Discussions involved President Trump and Chevron’s CEO, with conditions for tax allocations tied to migrant deportations. The extension reflects ongoing political and economic challenges in Venezuela under Maduro’s leadership.
The Trump administration intends to extend the deadline for Chevron Corp. to cease its operations in Venezuela for an additional 30 days, following lobbying by the oil company. U.S. officials have signaled to Chevron that they will have extended time beyond the April 3 deadline, although they have yet to specify the duration of the extension.
During a recent meeting with President Donald Trump and fellow oil executives, Chevron CEO Mike Wirth discussed the possibility of extending the deadline. President Trump showed a willingness to consider the extension, as indicated by sources familiar with the meeting.
A White House spokesperson refrained from commenting on the details of the private discussions with the president and stated there has been no formal announcement concerning Chevron at this moment. Officials from both the State Department and the Treasury Department did not respond promptly to requests for comments.
Chevron’s spokesperson, Bill Turenne, stated that the company frequently engages with government officials to address business-related concerns globally while adhering to all applicable laws and regulations, including U.S. sanctions.
The deadline was originally imposed to pressure Venezuelan President Nicolas Maduro to implement democratic reforms and accept additional migrants from the United States. An important condition of the extension includes directing taxes and royalties to assist with the costs of migrant deportations rather than benefiting Maduro’s regime.
After briefly suspending the acceptance of U.S. deportation flights as a response to the Chevron deadline, the Maduro government resumed these flights as of March 14, as stated by Jorge Rodríguez, Maduro’s chief negotiator. Chevron is responsible for approximately 20% of Venezuela’s crude oil production, providing a considerable amount of the country’s hard currency.
In summary, the Trump administration is set to extend Chevron’s operational deadline in Venezuela by at least 30 days, driven by lobbying efforts from the company. Discussions between Chevron executives and the U.S. government highlight the complexities of U.S. sanctions amid Venezuela’s political climate. The extension comes with conditions regarding financial allocations and reflects ongoing tensions between the U.S. and the Maduro regime regarding democratic reforms and immigration issues.
Original Source: www.worldoil.com
