11/26/2022
RawNews1st – The Treasury Department said Chevron has been issued an expanded license to import petroleum or petroleum products produced by its joint venture with PDVSA, the Venezuelan state oil-firm.
The approval comes after talks resumed between the Venezuelan government, led by socialist President Nicolás Maduro, and the opposition Unitary Platform.
As energy prices have risen and fueled inflation, President Biden released more than 200 million barrels from the nation’s emergency oil reserves to provide relief at the pump.
His administration has urged foreign governments like Venezuela to increase oil production as well amid worldwide shortages caused by sanctions against Russia for the war in Ukraine, OPEC+ announcing production cuts, and slowing production in U.S. shale.
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