Venezuelan President Nicolas Maduro has commented on recent statements made by Chevron CEO Mike Wirth, who warned that ongoing restrictions in Venezuela could threaten US energy security if the company is forced to withdraw.

In response, Maduro stated that the real damage is being done to the oil giant itself as a result of sanctions imposed by extremist sectors in both the United States and Venezuela.

Speaking on his television program Con Maduro +, the president emphasized that despite sanctions, Venezuela’s oil production remains stable and is set to grow.

Maduro added that his country remains committed to its contractual obligations with Chevron, ensuring continued cooperation and expansion in the energy sector.

“We will continue to honor our agreements with Chevron, and our workers are ready to keep producing,” he affirmed.

Read more: Venezuela halts Chevron's crude loadings amid escalating US sanctions

Venezuelan oil sector shows signs of growth

Following discussions with oil workers, Maduro noted that Venezuela’s petroleum industry is on a solid footing.

He credited oil sector workers for their resilience and highlighted that the Chevron sanctions in Venezuela were instigated by far-right elements intent on damaging a long-standing relationship.

Chevron CEO calls for energy policy stability

Wirth recently appealed to the US government to establish a more consistent and long-term energy policy, pointing to disruptions caused by prior administrations.

He emphasized the need for stability to avoid political volatility that endangers corporate planning and operations abroad.

Sanctions affect US firms, Venezuelan economy

The US sanctions impact on Chevron has not only strained its activities in Venezuela but also caused broader disruptions to the Venezuelan economy, contributing to ongoing hardship and migration.

Venezuelan Vice President Delcy Rodriguez has repeatedly denounced these sanctions as harmful to both the Venezuelan people and US companies, describing them as self-defeating.

Venezuela calls for investment, contractual stability

Maduro called for the full lifting of sanctions and extended an open invitation to international investors, stressing that Venezuela is a serious and reliable partner willing to uphold its commercial commitments.

He reiterated the importance of foreign companies like Chevron in the country’s economic future.

The president concluded by affirming the patriotism and resilience of the Venezuelan people, vowing that they would continue to stand strong against external aggression.

Read more: US inflicted severe blows on global economy: Venezuela's Maduro