PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 26.Mar.2025) — Secondary tariffs of 25% announced by US president Donald Trump on countries buying crude oil and/or natural gas from Venezuela could see the OPEC country lose up to 400,000 barrels per day (b/d) in a worst case scenario, which would result in lost revenues of $9.4bn, according to Barclays.
This, even after US-based Chevron Corporation was given more time, untl 27 May 2025, to wind-down its Venezuelan operations. Said operations under the command of 4 joint ventures, accounted for around 242,000 b/d of production, according to documents seen by Energy Analytics Institute (EAI).
RELATED: Chevron JVs in Venezuela Producing Around 242,000 b/d or 27% of Venezuela’s Production
