U.S. to authorize Chevron to pump oil in Venezuela if regime resumes talks with opposition

The government of the United States is prepared to authorize Chevron Corporation to expand its operations in Venezuela as soon as the Venezuelan government and opposition resume political talks, sources familiar with the matter said on Wednesday. 

The move would ease the sanctions imposed by the U.S. on the Venezuelan regime and help rebuild the country’s declining oil production, according to Reuters. 

The regime of Nicolas Maduro and the opposition, as well as U.S. officials, plan to hold talks in Mexico City this weekend for the first time since October 2021. Under the facilitation of Norway, the talks between the two parties will address the 2024 presidential elections, the status of political prisoners, and the use of humanitarian aid. 

According to the terms drafted by U.S. officials, Chevron’s operations in Venezuela will prevent the state-run oil firm PDVSA from benefiting from the American company’s oil sales. 

A source in Washington said that the new license would cut "the use of corrupt shadow firms that control the flow of Venezuela oil to countries like China." 

The Biden administration aims to "shift oil sales from illicit and non-transparent channels to transparent, legitimate channels," the source added. 

However, if the Maduro regime fails to uphold its commitments or negotiate in good faith, the White House could revoke the permissions for oil operations in the country. 

"We have long made clear our willingness to provide targeted relief based on concrete steps that alleviate the suffering of the Venezuelan people and bring them closer to a restoration of democracy," said a spokesperson for the U.S. State department.

Chevron declined to comment on the pending license.