Chevron Corp aims to start receiving cargoes of Venezuelan oil as early as December after the oil company last week received a U.S. license to do so, but Caracas may not be as eager because U.S. sanctions restrict payments, people familiar with the matter said.
aims to start receiving cargoes of Venezuelan oil as early as December after the oil company last week received a U.S. license to do so, but Caracas may not be as eager because U.S. sanctions restrict payments, people familiar with the matter said.reinstating oil trading privilegesExecutives at Venezuelan state firm PDVSA initially welcomed the authorization for a partial return to the United States, once the country's most important market.
"If unsecured creditors can be repaid, then the U.S. government should allow Crystallex, which is a secured creditor, to be repaid," said Rahim Moloo, an attorney for mining firm Crystallex International. The White House is "open to further calibrating" sanctions, the person added, but any relaxation depends on progress in the acceptance of a Venezuelan electoral calendar, reinstatement of excluded candidates, a return of political parties to rightful leaders, and access for international electoral observers.
Washington also issued a separate six-month renewal for oil service companies to maintain operations without authorizing them to drill, repair wells, or to contract for additional personnel or services.
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