Chevron To Take Over Venezuelan Oil Project This Week ...Middle East

OILPRICE - Economy
Chevron To Take Over Venezuelan Oil Project This Week
source : OILPRICE ( Middle East ) () 34
Chevron will officially assume control of an oil project in Venezuela this week, Bloomberg has reported, citing unnamed sources. The supermajor will process heavy crude at the Petropiar facility, called an upgrader, and then export it to refiners on the U.S. Gulf Coast after the Treasury Department granted Chevron an exemption from Washington’s sanctions on Caracas. Sanctions against Venezuela were introduced in 2019 by the Trump administration, and the decision of his successors to ease some of these came after the resumption of talks last…

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