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Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
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Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children

Chevron declines to comment on Venezuelan oil production increase news

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Sep 2023 08:44
2 Min Read

Chevron will reportedly increase production by 65,000 bpd in its joint venture with Venezuela's state-owned and US-sanctioned PDVSA.

  • x
  • Chevron to increase Venezuelan oil production and declines to comment.
    A Chevron sign is seen at a gas station in Miami, Florida, United States, on May 2, 2017 (AP)

Chevron has declined to comment on reports, an indication that it will increase production of Venezuelan oil by the end of 2024.

Media reports have shown that the US-based energy company plans to boost production by 65,000 barrels of oil a day by the end of 2024, pushing its total output to 200,000 bpd in its joint venture with Venezuela's state-owned energy company Petróleos de Venezuela (PDVSA).

"Chevron does not comment on rumors or commercial matters," Chevron said in a statement to Sputnik on Monday.

"We continue to conduct our business in compliance with all laws and regulations where we operate, as well as the sanctions framework provided by the US Office of Foreign Assets Control (OFAC)," the oil giant said.

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The US has heavily sanctioned Caracas' oil sector only to lift some of them in late 2022.

The US Treasury provided Chevron with a new license in November last year to extract oil in Venezuela for six months through its joint venture partners, such as PDVSA. However, this license does not allow for the expansion of operations or new US investments in Venezuela's oil sector, which has been recently rumored.

Venezuela is preparing for a presidential election set to take place in 2024 after US efforts to topple current President Nicolas Maduro and impose its own candidate failed miserably.

Earlier on August 25, the National Electoral Council (CNE) of the country for 2023-2030 was approved by Venezuela's National Assembly, in preparation for next year's elections.

This comes after the president of the assembly, Jorge Rodríguez, announced that Caracas will not authorize the EU to get involved in Venezuela's 2024 presidential elections by sending an electoral observation mission to monitor the elections, saying the European body has meddled in the country's internal affairs.

Read more: Venezuela not to allow EU electoral mission in upcoming elections

  • Chevron
  • United States
  • us sanctions on venezuela
  • Venezuela
  • PDVSA
  • Nicolas Maduro

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