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PDVSA and Chevron advance negotiations on oil production

Caracas, May 27 (Prensa Latina) The Venezuelan Minister of Petroleum, Rafael Tellechea, reportedly held a meeting in Caracas with Chevron exectives, which he described as successful.

The meeting, held on Friday, was attended by the president of the US multinational oil company, Javier La Rosa, and his team, and served to “advance in the strengthening of oil production”, the head of Empresa Petróleos de Venezuela wrote on Twitter.

On December 2, the Government of the Bolivarian Republic and the US company signed important contracts that gave continuity to the operations and oil production of that company in the South American nation.

The agreements, framed in the Constitution of the Venezuelan Republic and the laws that govern the national oil industry, were aimed at continuing with production and development of this energy sector, authorities said at that time.

Last April Chevron celebrated 100 years of presence in Venezuela and is part of a strategic partnership expressed in four mixed entities, two of them producing in the Maracaibo Lake basin, Zulia State, and the rest in the Hugo Chávez Orinoco Oil Belt.

At the end of November 2022, the U.S. Government authorized Chevron to resume limited natural resource extraction operations in Venezuela.


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