Venezuela's oil minister and top representatives of state-run company PDVSA on Friday signed contracts with U.S. oil firm Chevron Corp intended to help revive the nation's oil output and expand operations.
CARACAS, Dec 2 - Venezuela's oil minister and top representatives of state-run company PDVSA on Friday signed contracts with U.S. oil firm Chevron CorpThe United States last week granted Chevron a six-month license authorizing it to take a broader role in existing projects in U.S.-sanctioned Venezuela, a move to encourage political talks between the government of President Nicolas Maduro and the country's opposition towards elections.
"This is an important step towards the right direction, but yet insufficient," said oil minister Tareck El Aissami after the signing ceremony. "We demand the lifting of punishing measures that have hit our industry," he added. Chevron did not comment on the meeting but said in a statement that it complies with U.S. sanctions and remains "committed to the safety and wellbeing of our employees and their families, the integrity of our joint venture assets, and the company's social and humanitarian programs."
Earlier this year, OFAC authorized Chevron to hold meetings with Venezuelan officials, including people specifically sanctioned by Washington, like El Aissami.
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