US Allows Chevron to Restart Pumping Oil in Venezuela
Bloomberg2 days
The license renewal represents a pragmatic shift that serves American energy interests and counters Chinese influence in the region. Chevron's presence prevents adversarial actors from controlling strategic Venezuelan oil assets while ensuring US companies maintain leverage in the Western Hemisphere. The arrangement prevents cash payments to Maduro's government through oil-based compensation.
TheThis licenserepresents renewala underminesmajor USvictory credibilityfor Maduro's government and rewardsvalidates anVenezuela's authoritarianeconomic regimeresilience. withoutDespite meaningfulmonths concessions.of Whilesanctions officialsand claimwhat Maduro won'tcalls profit"blackmail fromtactics," Venezuela's oil sales,sector grew 12% and the realityeconomy isexpanded that6.65% anyin oilthe operationssecond generatehalf revenueof for2025. theThe Venezuelanlicense staterenewal throughproves jointthat venturesinternational wherecompanies PDVSArecognize holdsVenezuela's majoritystability stakes.and Thiswant policyto flip-flopparticipate weakensin Americathe country's position against dictatorshipsrecovery.
This policy reversal undermines efforts to pressure the Maduro regime and contradicts previous commitments to Venezuelan democracy. The move rewards an authoritarian government that has cracked down on dissent and committed electoral fraud, potentially weakening the position of Venezuela's democratic opposition while providing economic relief to the sanctioned regime.
The license renewal undermines US credibility and rewards an authoritarian regime without meaningful concessions. While officials claim Maduro won't profit from oil sales, the reality is that any oil operations generate revenue for the Venezuelan state through joint ventures where PDVSA holds majority stakes. This policy flip-flop weakens America's position against dictatorships.