The US grants authorization to Chevron to operate in Venezuela 4:12
(CNN) --
The Venezuelan government and US oil company Chevron signed a contract in Caracas on Friday to resume operations in that South American country, according to the country's state broadcaster VTV.
"These contracts aim to continue productive and development activities in this energy sector, framed within our Constitution and the Venezuelan laws that govern oil activity in the country," said the Venezuelan Oil Minister, Tareck El Aissami, who attended the signing ceremony along with representatives of Venezuela, the Venezuelan state oil and natural gas company PDVSA and Chevron.
"We have said it and we repeat it, it is an important step in the right direction but still insufficient as declared by President Nicolás Maduro," added El Aissami.
The United States grants Chevron a limited authorization to extract oil in Venezuela after a humanitarian agreement
The move comes a week after the United States gave Chevron limited authorization to resume oil extraction from Venezuela.
This came after the Venezuelan government and the opposition group reached an agreement on humanitarian aid and continued negotiations on a solution to the country's chronic economic and political crisis.
April 2023 will mark the centenary of Chevron in Venezuela, El Aissami said at the event.
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