Reuters: Chevron terminates contracts in Venezuela, but plans to maintain employees
Chevron has already terminated all its contracts for oil production, services, and procurement for Venezuela upon the expiration of its license.
Economy
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Rate Gap Nears 50% Following Elections and Chevron’s Final License Termination
The shortage of official foreign currency has directly impacted prices and the purchasing power of Venezuelans. Photo: Archive Guacamaya, May…
U.S. to Allow Chevron Only Minimal Maintenance in Venezuela, According to Bloomberg
The Trump administration plans to grant Chevron a limited license to carry out only essential maintenance
Panama and Venezuela Resume Commercial Flights After Nearly 10 Months of Suspension
Arrival area of Simón Bolívar International Airport in Maiquetía, Venezuela’s main air terminal. Photo: Rogerio Tomaz Jr. (Courtesy). Guacamaya, May…
U.S. Government Plans to Extend Chevron License for 60 Days
The Donald Trump administration plans to extend General License 41, which allows Chevron to operate in Venezuela despite sanctions.
Reuters: Chevron’s Boscan crude from Venezuela now bound for China
Venezuela’s state-owned oil company, PDVSA has started to export heavy crude that has been shipped by Chevron since 2022.
OPEC: Venezuela’s April oil production may have fallen by 34,000 barrels per day
The monthly report from the OPEC records a drop in oil production of 34,000 barrels per day (bpd) for the month of April.
Reuters: Venezuelan crude labeled as Brazilian upon arrival in China to evade sanctions
In the last year, more than $1 billion worth of Venezuelan oil has been labeled as Brazilian crude upon arrival in China.
Gustavo Petro Wants Ecopetrol to Buy Monómeros
Colombian President Gustavo Petro has proposed that the state-owned energy company Ecopetrol purchase the fertilizer producer Monómeros, owned by Petróleos de Venezuela, S.A. (PDVSA).
Reuters: Venezuela’s Oil Exports Drop 20% in April Due to Chevron’s Exit
Reuters estimates that Venezuela’s oil exports fell by 20% in April, averaging 700,000 barrels per day (bpd). This would be the lowest level in nine months.