The Trump administration plans to extend Chevron’s deadline to exit Venezuela by at least 30 days, a decision influenced by lobbying from Chevron. The extension comes as the U.S. seeks to pressure the Maduro regime while ensuring that certain conditions involving tax proceeds for migrant deportations are met.
The Trump administration is reportedly set to extend the deadline for Chevron Corp. to cease operations in Venezuela by a minimum of 30 days, responding to lobbying efforts from the Texas-based oil company. This extension will allow Chevron additional time to conclude its operations with the Venezuelan state-owned oil company, Petroleos de Venezuela SA, beyond the initial April 3 deadline; however, precise details on the length of the extension remain unclear.
During a recent meeting at the White House involving Chevron CEO Mike Wirth and President Donald Trump, the possibility of an extension was discussed. Sources indicated that Trump was amenable to the idea. Nevertheless, a White House official did not comment on specifics regarding the president’s private discussions and confirmed that no official announcement concerning Chevron has been made.
Chevron’s spokesperson, Bill Turenne, affirmed that the company maintains regular communications with government officials in Washington, seeking to engage constructively regarding its global operations. Turenne emphasized, “Chevron conducts its business globally in compliance with all laws and regulations, including any sanctions frameworks provided for by the U.S. government.”
The deadline imposed by the Trump administration aims to compel President Nicolas Maduro’s regime to implement democratic reforms and increase acceptance of migrants from the United States. An essential condition of the extension stipulates that any taxes and royalties accrued must be redirected to fund migrant deportations rather than to the Maduro government.
Following the pressure exerted by the U.S., the Maduro government had temporarily ceased accepting U.S. deportation flights as a reprisal against Chevron’s deadline. These flights resumed on March 14, as reported by Jorge Rodríguez, Maduro’s primary negotiator. Chevron’s operations are crucial to Venezuela, accounting for approximately one-fifth of the nation’s crude production and a significant portion of its hard currency.
In summary, the Trump administration is likely to extend Chevron’s deadline to terminate its Venezuelan operations by at least 30 days, motivated by lobbying efforts from the company. This extension allows Chevron to conclude its business dealings under certain conditions, reflecting the administration’s strategy to pressure the Maduro regime towards democratic reform. The situation remains dynamic, warranting close attention to further developments.
Original Source: www.worldoil.com
