Heard Venezuela: Oil Sales To Chevron

(Energy Analytics Institute, 24.Nov.2020) — Heard on the street in Venezuela related to the sale of Venezuelan oil to US based company Chevron Corporation.

OFAC License To Sale Oil To Chevron

Discussions are said ongoing between US and Venezuelan officials regarding a plan that would entail a special OFAC license to allow state oil company Petroleos de Venezuela (PDVSA) to sale oil to Chevron. The plan entails diverting resources that would be received by PDVSA to the United Nations to be used for humanitarian purposes.

The option of swapping oil-for-fuel is not being proposed, rather the sale of oil to Chevron and its compensation.

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.