Venezuela and Chevron signed contracts to continue oil production

The government of Venezuela and the American company Chevron signed contracts this Friday in Caracas for the continuation of the joint production of Petroleum in the Caribbean country, which will be possible thanks to the relief of economic sanctions by USA

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The Minister of Oil, Tareck El Aissami, celebrated the signing of the “important contracts”of which he did not offer further details, which were signed by various officials, including the president of the Venezuelan state PDVSA, Asdrúbal Chávez, and the president of Chevron in the country, Javier La Rosa.

Last Saturday, the Government of the United States announced the authorization to Chevron to resume limited operations of extraction of natural resources in Venezuela, as a result of the resumption of the dialogue between the Government of Nicolás Maduro and the opposition in Mexico, after a year suspended. .

El Aissami explained that these contracts are intended to “continue with productive and development activities in this energy sector”, and “are framed” within the Constitution and the Venezuelan laws that govern oil activity.

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However, the minister assured that, despite being “an important step in the right direction”, remains “insufficient”due to the fact that economic sanctions are still in force that, he stated, have affected the “powerful industry” Venezuelan oil company and have “their legitimate right to exploration, exploitation, refining and commercialization of crude oil and its derivatives has been severed.”

“As declared by President Nicolás Maduro, from Venezuela we demand the cessation and immediate lifting of all unilateral coercive measures that have attacked our powerful PDVSA industry, (…) that have caused serious damage to both the national economy” and to “strategic partners”, the official maintained.

Chevron is part of a “strategic partnership” in Venezuela made up of four mixed companies: Petroboscán and Petroindependiente, in Zulia state (northwest); and Petropiar and Petroindependencia, in the Orinoco Oil Belt, in the eastern part of the nation, which has the largest proven oil reserves.

Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.