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Search resuls for: "Daphne Psaledakis Marianna Parraga"


2 mentions found


☆ Chevron can resume key role in Venezuela's oil output, exports
  + stars: | 2022-11-26 | by ( Daphne Psaledakis Marianna Parraga | Daphne Psaledakis | Marianna Parraga | ) www.reuters.com   time to read: +5 min
POLITICAL TALKSFollowing oil sanctions on Venezuela in 2019, Chevron received an exemption to trade its Venezuelan crude to recoup pending debts. Chevron's four PDVSA joint ventures produced about 200,000 barrels per day of crude oil and exported the crude around the world prior to the sanctions. It also allows the U.S. company to import supplies to help process the country's crude oil into exportable grades. That limits any wider expansion of Venezuelan oil production. Chevron and other U.S. oil refiners could benefit from supplies of Venezuela's heavy crude flowing to their U.S. Gulf Coast processing plants.
☆ U.S. issues expanded license to allow Chevron to import Venezuelan oil
  + stars: | 2022-11-26 | by ( Daphne Psaledakis Marianna Parraga | Daphne Psaledakis | Marianna Parraga | ) www.reuters.com   time to read: +3 min
The decision allows Chevron to revive existing oil projects in the U.S.-sanctioned country and bring new oil supplies to refiners in the United States. However, it restricts cash payments to Venezuela, which could reduce the amount of oil available to Chevron. License terms are designed to prevent Venezuelan state-run oil firm PDVSA from receiving proceeds from Chevron's Venezuelan petroleum sales, U.S. officials said. A Chevron spokesperson said the company was reviewing the license terms and declined immediate comment. Proceeds due Venezuela from Chevron's oil sales would go into a humanitarian fund rather than to PDVSA.
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