LatAmOil: Chevron lobbies for continued Venezuelan operations despite post-election turmoil

In the wake of Venezuela's disputed presidential election, US oil giant Chevron has intensified its lobbying efforts in Washington, urging officials to allow its continued operations in the crisis-stricken South American country, the Wall Street Journal (WSJ) reported.

The recent vote, widely regarded as rigged by President Nicolás Maduro's regime, has plunged Venezuela into fresh chaos. Despite international observers and the US State Department declaring opposition candidate Edmundo González the rightful victor by a significant margin, Maduro has tightened his grip on power, unleashing an unprecedented wave of repression against dissenters.

Sources close to the matter reveal that amidst this tumultuous backdrop, Chevron executives have reportedly engaged in high-level meetings with White House and State Department officials. The oil company's message has been clear: its presence in Venezuela is crucial for bolstering global oil supplies and safeguarding US energy security.

Chevron, Venezuela's last remaining American oil giant, has substantial interests at stake. With approximately 250 direct employees and an additional 3,000 workers across its sites, the company's operations account for roughly 20% of Venezuela's crude exports and a staggering 31% of the government's oil income, according to financial consultancy Ecoanalítica. The US oil behemoth maintains four joint ventures with state-run energy firm PDVSA – an entity under direct regime control – producing 200,000 barrels per day (bpd) of crude.