Meanwhile, the Italian company Eni confirms the prohibition by the United States to receive payments from Petróleos de Venezuela S.A. (PDVSA). Nicolás Maduro urges international oil companies not to adhere to the sanctions imposed on Venezuela and to maintain their operations in the country, while increasing their crude oil shipments to China.
In a statement, the company indicated that it is maintaining a “transparent dialogue with U.S. authorities” to explore “options that ensure that unsanctioned gas supplies, essential for the population, can be compensated by PDVSA.”
It also mentioned that “Eni always operates fully in compliance with the international sanctions framework,” and in this regard, noted that the U.S. informed them that they would not be allowed to receive payments for gas production in Venezuela through oil supplies from PDVSA.
U.S. authorities have recently been informing PDVSA’s foreign partners about the revocation of licenses that allowed them to export Venezuelan oil and its derivatives.
No Permission Needed to Operate in Venezuela
Delcy Rodríguez stated that oil companies do not need permission from the U.S. to operate in Venezuela.
As Chevron is joined by Repsol, Maurel & Prom, Reliance Industries, Global Oil Terminals, and now Eni, the Maduro regime denounces the U.S. sanctions on Venezuela as an economic war and urges international oil companies to continue operating in the country.
Delcy Rodríguez, Vice President and Minister of Hydrocarbons, expressed their knowledge of the revocation of the licenses to their partners and assured that they are prepared to face the situation and “continue fulfilling the contracts of these companies.”
The high-ranking official of the Venezuelan dictatorship warned foreign companies that they do not require a license or permission from any other government to operate fully in Venezuela. In this sense, she invited those who had U.S. permits to “continue participating in production in a win-win scheme of the signed contracts.”
Eni produces gas in Venezuela and receives Venezuelan crude in exchange as payment, a barter that must be suspended under U.S. government instructions. This mechanism was established between the Italian oil company and PDVSA to enable the Venezuelan company to manage its debt for offshore gas investments in the country, particularly in Cardón IV.
More Oil for China
The Maduro regime, as compensation, increased oil shipments to China in March, reaching 400,000 barrels per day, the highest level since June 2023.
China is the largest crude oil importer in the world and is one of the strongest allies of the Venezuelan dictatorship, along with Russia and Iran.
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