The US extends the license of Chevron and four other oil companies to operate in Venezuela until June 2021

The United States Department of the Treasury has extended the permission to extend its operations in Venezuela that Chevron and four other oil companies had until June 3, 2021, as reported in a statement.

The previous deadline for Chevron, which is the only major North American oil company that continues to operate in the South American country, was December 1, within the framework of the oil sanctions imposed by the administration of Donald Trump on the Government of Nicolás Maduro.

The 180-day extension granted to Chevron also applies to other US companies such as Schlumberger, Baker Hughes, Weatherford or Halliburton, which in April completely ceded all their operations in the country.

The new license will only allow companies to carry out transactions “necessary for the limited maintenance of essential operations in Venezuela or the liquidation of operations” with PDVSA, the Venezuelan state oil company.

Likewise, the new scheduled date does not imply changes in the operations of the oil company in the country, which prevents Chevron from drilling, extracting, buying or processing crude oil or petroleum products of Venezuelan origin. The companies will not be able to repair or improve wells, pay dividends to PDVSA, hire personnel or negotiate new loans.

© 2020 Europa Press.

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