The United States eliminates Chevron oil license for Venezuela and gives 30 days to disassemble operations

The Office of Foreign Assets Control (OFAC) formalized on Tuesday the cancellation of license 41 that allowed Chevron to operate in Venezuela.

Although at the end of February, Donald Trump had announced the revocation of the permit, the license had automatically renewed on March 1, generating confusion in both Caracas and Washington, however, he announced the Department of the Treasury, formalizes the action.

According to the measure, the transnational will have until April 3 to close its operations in Venezuela.

«The liquidation of transactions previously authorized by General license 41 of Venezuela related to the operation and administration by Chevron Corporation or their subsidiaries of the joint companies of Chevron in Venezuela that involve PDVSA or any entity in which PDVSA owns, directly or indirectly, a 50 percent or more participation This, of April 3, 2025 ».

For now, this measure does not involve other foreign companies that continue working in Venezuela.

Chevron was one of the main foreign oil companies that was operating in the country. According to economists, the company contributed an important amount of dollars to the market, which helped maintain the stable exchange market.

The specialists had already warned about the impact on the exchange rate and inflation that would generate the oil exit.