Page 9 - LatAmOil Week 42 2022
P. 9

LatAmOil                                      VENEZUEL A                                           LatAmOil



                         The State Department spokesperson did not   regain operational control of its four joint ven-
                         comment further, and one of Reuters’ sources   tures with PdVSA. It would also be able to obtain
                         noted that Washington had yet to reach any   more control over the ventures’ procurement
                         official conclusions on its response to Chevron’s   and trading activities.. ™
                         request for relief from the sanctions.
                           Overall, though, the sources said, US officials
                         want the administration of Venezuelan Presi-
                         dent Nicolas Maduro to commit to coming back
                         to Mexico for at least one additional round of
                         discussions with the opposition before it gives
                         Chevron a green light to expand its footprint
                         in Venezuela. The US giant is looking for a way
                         to implement the technical service agreement
                         it signed with the South American country’s
                         national oil company (NOC) PdVSA during
                         the summer without violating sanctions laws,
                         which are designed to restrict and discourage
                         investment in Venezuela’s oil and gas industry.
                           If Chevron secures the necessary waivers
                         – or if sanctions are loosened to the necessary
                         degree – it would be able to use the technical    Members of Venezuela’s Unitary Platform, shown during a visit
                         service agreement as the basis for working to   to Washington in December 2021 (Photo: Twitter/@UnderSecStateP)



                                                        GUYANA
       Guyana’s government will withdraw third




       tranche of oil revenues to support budget





                         THE Bank of Guyana (BoG) noted on October   Resource Fund (NRF) to support budget spend-
                         17 that the government was slated to make its   ing this year. The government has already taken
                         third withdrawal of funds from the country’s   out nearly 66% of this sum in two tranches of
                         sovereign wealth fund in the fourth quarter of   GYD41.7bn ($200.64mn) each, with the first
                         2022.                                tranche withdrawn in the second quarter and
                           In a statement, the bank explained that   the second tranche in the third quarter. It will
                         Georgetown had already secured approval   now withdraw the third and final tranche of the
                         from the National Assembly to withdraw a total   year, in a payment of GYD43.294 ($208.3mn),
                         of GYD126.69bn ($609.58mn) from the Natural   during the fourth quarter.


























                                       All of the funds deposited in the NRF derive from Liza-1 and Liza-2 oil exports (Image: Hess)



       Week 42   19•October•2022                www. NEWSBASE .com                                              P9
   4   5   6   7   8   9   10   11   12   13   14