Jorge Rodríguez addresses the National Assembly at the Federal Legislative Palace. Photo: National Assembly.
Guacamaya, March 6, 2025. The president of the National Assembly, Jorge Rodríguez, stated that General License 41 allowed for the payment of debts that PDVSA owes to the American company Chevron.
“By revoking that license from Chevron, Venezuela, as a reliable payer, is prohibited from paying the outstanding debts we have with Chevron. So, the money we were paying to Chevron as part of the debt will now be invested in oil goods to produce more oil every day. Thanks in that regard,” said the Venezuelan politician.
On February 26, the President of the United States, Donald Trump, announced his intention to revoke General License 41. He cited that Nicolás Maduro had not respected “the electoral conditions” and was not receiving deported Venezuelan immigrants at the agreed rate. On March 3, the Office of Foreign Assets Control (OFAC) ordered the oil corporation to cease its operations in Venezuela within 30 days.
The “Chevron model” signed under General License 41 allowed the American company to take control over the operation and procurement of its joint ventures with PDVSA, despite holding a minority of the shares—private entities cannot hold more than 49%. Chevron was also permitted to sell shipments of Venezuelan crude oil directly, which were almost entirely sent to the United States, thereby recovering debts owed by PDVSA.
Speaking from the Federal Legislative Palace, the president of the National Assembly continued, “Beyond the infinite absurdity of believing, at this point, that they will manage to halt the momentum and progress of the Bolivarian Revolution, from an economic, commercial, and so-called free enterprise perspective that neoliberals around the world boast about, this is nothing but a shot in the foot of American imperialism.”
