The Trump administration is expected to extend Chevron’s deadline to wrap up operations in Venezuela by at least 30 days following lobbying by the company. Discussions between Chevron’s CEO and President Trump indicate potential flexibility on the deadline, aimed at influencing the Maduro regime. A condition for the extension includes directing taxes and royalties toward aiding migrant deportations instead of supporting the Venezuelan government.

The Trump administration is reportedly set to extend Chevron Corporation’s deadline to cease operations in Venezuela by a minimum of 30 days. This extension follows lobbying efforts by the company, as officials have signaled the need for additional time to conclude operations with Venezuela’s state-run entity, Petroleos de Venezuela SA. While specifics on the duration of the extension remain unclear, sources confirm that Chevron will be afforded extra time beyond the initial deadline of April 3.

Chevron’s Chief Executive Officer, Mike Wirth, discussed the potential for an extension during a recent meeting with President Donald Trump and other oil sector executives at the White House. Sources indicate that President Trump showed a willingness to consider this possibility. However, a White House official declined to share details regarding the president’s private discussions and stated there is no current announcement regarding Chevron’s situation.

A representative for Chevron, Bill Turenne, mentioned that the company’s executives frequently engage with government officials to discuss various business-related issues, both domestically and internationally. He emphasized that Chevron operates in compliance with all applicable laws and regulations, including U.S. sanctions frameworks.

The original deadline was imposed to exert pressure on President Nicolas Maduro’s regime, encouraging it to implement democratic reforms and accept a larger number of migrants into the U.S. A noted condition of the extension includes the stipulation that any taxes and royalties collected should fund migrant deportations, rather than benefit the Maduro administration directly.

In response to the deadline, the Maduro government had temporarily suspended the acceptance of U.S. deportation flights as a form of retaliation. However, flights were reinstated on March 14, as confirmed by Jorge Rodríguez, a key negotiator for Maduro’s government. It is important to note that Chevron is responsible for approximately one-fifth of Venezuela’s crude production and plays a pivotal role in generating the nation’s hard currency.

In summary, the Trump administration may grant Chevron an extension of at least 30 days to wind down operations in Venezuela. This decision stems from lobbying by Chevron and is associated with broader efforts to influence the Maduro regime towards democratic reforms. Furthermore, stipulations regarding the use of funds collected from operations underline the U.S. strategy concerning the Venezuelan government. The situation remains dynamic, particularly in light of the recent resumption of deportation flights.

Original Source: www.worldoil.com

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