DESPITE SANCTIONS, US COMPANY CHEVRON TO KEEP DRILLING FOR OIL IN VENEZUELA

Al Jazeera on 26^th July reported that the Trump Administration has renewed Chevron’s licence to drill for oil and gas in Venezuela despite sanctions.  The US Treasury renewed the licence for 3 months to 25^th October, with Chevron being the last US oil company operating in Venezuela.  Chevron, which has had a presence in the country for a century, has 4 joint ventures with PDVSA in Venezuela.  The US Treasury also renewed licences for 3 months for 4 oil-field service companies, all have largely halted operations in Venezuela because of the instability.

https://www.aljazeera.com/ajimpact/sanctions-firm-drilling-oil-venezuela-190726174848429.html

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017