Chevron received the U.S. license allowing the import of Venezuelan oil

On Saturday, Chevron Corporation received the American License. This document will allow one of the biggest oil companies to increase production in Venezuela and supply crude oil in the USA. 

Thanks to the license the major player in the U.S. oil market gained broader rights. Chevron still works in Venezuela which is under the sanctions of Washington. This decision restricts payments by cash to Venezuela, and it can decrease the amount of oil available for export. 

After sanctions were imposed on Venezuela, Chevron was exempted from oil trading in 2019. It was necessary to pay off the corporation’s debts. However, the payments stopped a year after. Before the imposition of sanctions, four joint enterprises of Chevron PDVSA were producing nearly 200,000 barrels of crude per day. Among the corporation's clients were companies from all over the world.

The USA provided the license on the same day the current Venezuelan authorities began to negotiate with the opposition in Mexico City.