US president Joe Biden’s administration will allow Chevron to sell crude cargoes from its joint ventures in Venezuela as a reward to Caracas for agreeing to resume talks between the government and political opposition. The action will not signifcantly afect Venezuela’s oil ex-ports or global oil markets. Chevron’s sales from its joint ven tures with Venezuelan state-owned PdV amounted to 42,000 b/d in 2019, the last full year before Washington tightened restrictions on the terms of US companies operating in that country.
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