Venezuela is said ready to maintain operations with oil companies despite Trump’s measures

Venezuela said this Sunday that it is ready to maintain operations with foreign oil companies, despite the decision of the president of the United States, Donald Trump, to revoke the permits to the partners of the state -owned PDVSA – among them the Spanish repsol – to export crude and derived from the Caribbean country.

In a statement, the Venezuelan Executive Vice President and Minister of Hydrocarbons, Delcy Rodríguez, said that they have «maintained a fluid communication with the transnational oil and gas companies that operate in the country», which, «he said,» they have been notified in the last hours by the US government about the revocation of their licenses. «

The official, who said that they were already «prepared for this juncture,» said that international companies «do not require a license or authorization from any foreign government, since Venezuela does not recognize or apply any extraterritorial jurisdiction.»

«We are a reliable partner and we will continue to comply with the agreements reached with these companies. The hydrocarbons engine is activated and the absolute productive independence plan ordered by the President of the Republic, Nicolás Maduro, continues its course and will remain open to all national and international investments for the development of this strategic sector, ”Rodríguez added.

Maduro, who swore in January for a third term after his questioned re -election last year, has insisted that any sanction will be «confronted, controlled and overcome.»

In addition to Repsol, among the affected companies are the American Global Oil Terminals, the Italian ENI, the French Maurel & Prom and India Reliance Industries, who had received permits to operate with Venezuelan crude in their refineries around the world, exceptionally to the sanctions against Caracas.

According to US media, most of these oil companies had already suspended imports of Venezuelan oil after Trump ordered a 25 % tariff to oil and gas buyers from the South American nation.

In cases of Repsol and Reliance, with great presence in the United States, authorization had been requested to operate in Venezuela and avoid incurring sanctions.

Now, companies have until the end of May to liquidate their operations in the Latin American country, which would strengthen the Trump administration campaign to isolate Chavismo.

However, experts consulted by EFE warn of a new adverse scenario for the Caribbean nation, in view of Trump’s decision to impose tariff 2019. EFE

Next, the statement

I want to inform that we have maintained fluid communication with transnational oil and gas companies that operate in the country, and that have been notified in the last hours by the US government about the revocation of their licenses.

We were prepared for this situation and we are ready to continue complying with contracts with these companies, within the framework of the Constitution of the Republic and Venezuelan laws.

As we have always sustained, international companies do not require a license or authorization from
No foreign government since Venezuela does not recognize or apply any extraterritorial jurisdiction. We are a reliable partner and we will continue to comply with the agreements reached with these companies.

The hydrocarbons engine is activated and the absolute productive independence plan ordered by the
President of the Republic, Nicolás Maduro, continues its course and will remain open to all investments
national and international for the development of this strategic sector.