Chevron seeks to protect Venezuelan business scrutinised by White House

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Chevron wants to protect a special US license in Venezuela, saying that China and Russia will have an impact if China and Russia are oil-producing countries-and Western hemisphere-if Donald Trump’s administration is forced.

In an interview with the Financial Times, Shevron’s chief executive Mike Ryith said the company would be involved with the White House after US Secretary of State Marco Rubio, said the license should be revived.

Ryith said that Chevron would obey US law and “stay away from politics”, he added that if the US oil Major comes out of it, it will allow state oil agencies to expand the rival countries in Latin America.

“In Venezuela, especially from the West holidays, you have seen companies from Russia to China, resulting in increasing their presence,” he said.

With says third -party research suggests that Venezuela’s economy will be damaged if she can exit Chevron and run immigration to the United States. Trump made his comment before he sent his envoy to special mission Richard Grenel to Venezuela on Friday Discuss an agreement For the repatriation of the country deporters from the United States.

Chevron has worked in Venezuela for almost a century and its licenses have been extended several times to do this – including the first Trump administration – even with the grazing of authoritarian governments in the United States has become and imposed with the authoritarian governments in the United States Economic restrictions To punish its leadership.

Joe Biden’s administration in 2022 gave Chevron a license to approval to his expansion Venezuelan Business, dictator Nicholas Maduro, hoping to improve the democratic situation and in a show of good faith. In October 2021, extensive sanctions in the country’s oil sector were lifted, allowing companies to do business with PDVSA, the state -owned oil producer of Venezuela.

However, Maduro backtrack the promise to allow the opposition to select its own candidate in the presidential election last July and the results, where Maduro was declared as victorious as a fraudulently fraudulent, the critics of both parties have persuaded whether Western companies should still continue the business there. Isle to ask questions.

The restrictions were re -used last April, though with a distinct discount license ChevronIt was placed in place.

This license has enabled Chevron to increase its Venezuela’s production by about 200,000 barrels a day.

The second largest Western oil company, Chevron, earned $ 1.2 billion in $ 2.2 billion a year ago, but the stock was below $ 2.5 at $ 2.56. In New York on Friday, its shares dropped by 5.6 percent.

Group, which was a significant Donor According to the Open Secrets, the recent election circle used the word “Gulf” of its income instead of Trump’s Gulf of Trump’s Gulf, just a few days after Trump Name Water body

Opposed to Venezuela MariaChevron has extended the call to cancel the license.

Talking to the FT this month, Machado – who was forbidden to run in the elections – warned against helping Maduro’s government to “help” Maduro’s government.

Rubio has indicated a more strict approach in the country. At the hearing of his guarantee this month, he called the Senators the biden administration “play” by Maduro.

Rubio said: “Now they have this general license where companies like Chevron are actually providing billions of dollars to the coffin of the regime and have not kept any of the promises that the government has made. So all that needs to be re -explored. “

When Maduro was sworn in for a third six -year term this month, the outgoing Biden administration, along with the EU and the UK, announced a comprehensive sanctions on Venezuela officials, though it stopped to cancel the exemption license.

Some experts have expressed concern that Chinese and Russian rivals can fill any gap in Chevron.

Francisco Manaldi, a Latin American energy expert at Houston Rice University, says Chinese and Russian oil companies are less likely to take action in Venezuela on Chevron’s holiday.

“They have not done so for the past few years, and especially since US sanctions have come into force, they were very careful,” said Manaldi.

Rith said that Chevron had a significant amount of money in Venezuela. “Look, we are running a business. We are not involved in foreign policy, “he said.