Erick Martin, Bloomberg News

WASHINGTON
EnergiesNet.com 12 12 2024

Secretary of State Antony Blinken left open the possibility of revoking Chevron Corp.’s license to produce oil in Venezuela, as the Biden administration looks to ramp up pressure on President Nicolás Maduro before leaving office.

“Everything is on the table right now, including in terms of the licenses,” Blinken told a House of Representatives hearing in Washington on Wednesday.

Blinken was responding to a question from Representative Maria Elvira Salazar, a Florida Republican, who asked if he would cancel oil contracts in Venezuela before Jan. 10, when Maduro is set to be sworn in again for a third-straight term. 

Salazar said Biden could announce that the US won’t “be doing business with dictators anymore.” 

“You can send a message to Chevron,” she added.

The US has ratcheted up sanctions on Maduro’s inner circle and allies accused of supporting his effort to defy results of a July election that the country’s opposition and Washington say he lost. Last month, the US began referring to opposition candidate Edmundo González as Venezuela’s president-elect. But Maduro is almost certain to keep his grip on power.

Chevron and several other oil companies have permission from the US Treasury Department to do limited business with state energy company Petroleos de Venezuela. 

Biden’s administration eased sanctions last year as part of a deal to get Maduro to agree to hold the election. But it announced the re-imposition of sanctions in April after determining the Maduro regime failed to honor that deal to allow a fairer vote.

bloomberg.com 12 11 2024