Venezuelan opposition urges US to revoke oil company licenses in effort to exert pressure on Maduro

The main opposition coalition in Venezuela has urged the United States to revoke the licenses that permit Chevron and other energy companies to work in the South American nation as a means to push President Nicolás Maduro to engage in negotiations for a transition of power. The call was made by an advisor to Edmundo González Urrutia’s campaign, who represented the Unitary Platform coalition in a recent election alongside opposition leader Maria Corina Machado. They allege a victory in the election, despite national electoral authorities declaring Maduro as the winner. The advisor emphasized the importance of canceling the licenses as they provide a crucial support system for the current regime, which is responsible for the severe impoverishment of Venezuela.

Chevron, based in California, holds a significant individual permission from the US government to conduct business with Venezuela’s state-owned oil company, PDVSA. This authorization was granted in 2022 following negotiations between Maduro and the opposition coalition. While there was optimism for improved electoral conditions in Venezuela, leading to a relaxation of sanctions, the Biden administration reversed this decision as hopes for democratic progress diminished. Despite this setback, the administration has signaled a possibility for companies to seek exemptions from restrictions, potentially attracting more investment to Venezuela, a country rich in oil reserves.

The González-Machado campaign aims to establish common ground with oil companies, elucidating that the current presence of these companies in Venezuela allows Maduro to strengthen his authoritarian rule. In response to the opposition’s stance, Chevron did not provide immediate comment on the matter. Following a controversial election in Venezuela, where detailed vote tallies were not released, global scrutiny over transparency led to an audit requested by Maduro, ultimately reaffirming his victory.

Subsequent to the disputed election, legislative actions have been taken in the US, proposing restrictions on American investments in Venezuela’s oil sector and visa limitations for current and past officials in the Maduro government. Resolutions recognizing González’s victory were also presented in the US House and Senate. González, facing arrest in connection to the election results publication, has sought exile in Spain. Recently, the US Treasury Department imposed sanctions on 16 individuals allied with Maduro, citing their involvement in hindering the vote and perpetrating human rights violations, including high-ranking judicial and security officials in Venezuela.