Oil worker operating a drill at a PDVSA/Chevron rig in Venezuela. Photo: Daniel Acker/Bloomberg.
Caracas (OrinocoTribune.com)—The secretary general of the United Socialist Party of Venezuela (PSUV), Diosdado Cabello, declared that Venezuela “does not live off Chevron,” clarifying that recent US authorizations constitute “a license for a US company—not for Venezuela.”
During a party press conference Monday, August 4, Cabello dismissed speculation about payment restrictions: “It is misguided to claim Chevron won’t pay us. Whoever invented that seeks to deceive their own people.” He emphasized that this as a commercial transaction under state policy: “Whoever extracts Venezuelan oil must pay; it’s neither free nor a gift.”
Context of US licensing
The statement addresses the US Office of Foreign Assets Control’s (OFAC) licensing framework. Recent far-right analyses speculated about clauses prohibiting payments to Venezuela’s government. However, Cabello confirmed the license permits Chevron to:
• Make joint-venture decisions and procurement contributions;
• Pay royalties, taxes, and contracts;
• Settle debts.
Geopolitical tensions
Cabello framed the criticism as part of a US campaign “to impose rather than convince,” asserting Venezuela’s sovereignty: “Our oil will not be stolen.” He noted that Chevron proactively sought to return after the US revoked its license in February 2025—a move tied to the continuation of the US “regime”-change operation against the socialist government in Venezuela.
Production realities
Despite Chevron’s absence since April:
• Venezuela maintained oil output without production drops;
• The publicly owned petroleum company PDVSA assumed control of joint ventures and crude sales;
• Chevron’s prior exports (240,000 bpd) now flow primarily to China;
• Cabello concluded: “This country lives on Venezuelans—not Chevron.”
Special for Orinoco Tribune by staff
OT/JRE/SL
