PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 24.Mar.2025) — The US Office of Foreign Assets Control (OFAC) issued General License No. 41B on 24 Mar. 2025, extending the wind down of certain transactions related to Chevron Corporation‘s joint ventures (JVs) in Venezuela.
Chevron now has until 27 May 2025 to wind down its operations in Venezuela. This, after OFAC issued GL41A in early-Mar. 2025, which stipulated a wind down period date of 3 Apr. 2025.
RELATED: OFAC Releases GL41A Stipulating Chevron Wind Down in Venezuela [PDF Download]
