Chevron contractors are still active in Venezuela, disregarding a deadline from the Trump administration to cease operations by April 3. Local service companies continue to fulfill contracts with state-run PDVSA, reflecting challenges for compliance. The situation has garnered criticism for assisting a contentious regime, while the Trump administration prepares to intensify sanctions on involved companies.

Despite a stringent ultimatum from the Trump administration, Chevron contractors continue their operations in Venezuela. According to Bloomberg, local service companies working on Chevron’s joint ventures with state oil firm PDVSA have not yet diminished their activities in the region. These contractors remain engaged in maintaining wells, supplying power generators, and operating specialized drilling equipment, as they have not received any directives to cease operations.

The urgency of compliance with the April 3 deadline set by the Trump administration poses a significant challenge for Chevron. Local sources have expressed concerns about the feasibility of meeting the ultimatum, which eliminated a six-month wind-down period initially anticipated. A spokesperson for Chevron acknowledged the presidential mandate while affirming the company’s intention to adhere to any forthcoming directions from the U.S. Treasury Department.

Over the years, Chevron has significantly increased its oil production in Venezuela, with activities now constituting approximately 20% of its global output. This presence has contributed positively to Venezuela’s ailing economy, drawing criticism for allegedly bolstering an authoritarian regime known for its undemocratic practices.

Former President Trump criticized the Maduro government for ignoring promised electoral reforms and failing to repatriate Venezuelan migrants in the U.S. as agreed. Trump stated, “We are hereby reversing the concessions that Crooked Joe Biden gave to Nicolás Maduro… which have not been met by the Maduro regime.”

In response to the Trump administration’s actions, Maduro indicated that these decisions impacted deportation flights from the U.S. to Venezuela, which were previously seen as a goodwill gesture. Nonetheless, the Venezuelan government confirmed it would resume these flights on Thursday, according to special envoy Richard Grenell.

The Trump administration is reportedly intensifying its economic pressure on Venezuela, planning to compel more companies to cease operations. Recent reports from Bloomberg suggest that several firms have been notified of impending license revocations, providing them 30 days to conclude their activities. Companies like French oil producer Etablissements Maurel & Prom SA and Spanish giant Repsol are among those impacted.

In conclusion, Chevron’s contractors are still operational in Venezuela despite the April 3 ultimatum set by the Trump administration, challenging the feasibility of compliance with the deadline. The continuing operations contribute to Venezuela’s economy while drawing criticisms regarding support for an authoritarian regime. The Trump administration’s forthcoming economic measures indicate a broader commitment to exerting pressure on companies operating in the region.

Original Source: www.inkl.com

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