US licence lets Chevron resume limited oil operations in Venezuela

The US Treasury's Office of Foreign Assets Control on 26 November issued Venezuela General Licence 41, allowing Chevron to resume limited natural resource extraction in the country. The move followed the announcement that the Maduro government and the opposition Unitary Platform would resume talks in Mexico City. Treasury said the licence covers only Chevron's joint ventures with state oil company PdVSA, prevents PdVSA from receiving profits from Chevron's oil sales and authorises no other dealings with PdVSA. Other US sanctions on Venezuela remain in place and will be "vigorously" enforced, Treasury said. OFAC also extended General Licence 8K and removed Chevron from it.

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