US companies are interested in Venezuelan oil trade

Chevron, Vitol, and Trafigura companies are trying to obtain contracts with the US government to establish oil exports from Venezuela. This was reported by Zamin.uz.

According to Reuters news agency, citing its sources, these companies are interested in controlling Venezuelan oil trade and the country's revenues.

According to Reuters, this plan is related to a scenario of removing Venezuelan President Nicolas Maduro from power. During the negotiations, companies are competing to gain the right to sell up to 50 million barrels of oil stored in state-owned PDVSA warehouses.

So far, the details of the agreements have not been disclosed. Chevron, the only major American oil company operating in Venezuela, hopes to expand its license.

However, this time it will have to compete directly with foreign companies. The Switzerland-based Vitol company has succeeded in obtaining an initial 18-month license from the US.

According to Reuters, due to years of lack of investment and sanctions, oil production in Venezuela has sharply declined. Currently, about 1 million barrels of oil are produced daily in the country, whereas in the 1970s this figure was 3.5 million barrels.