Chevron’s president-and-chief executive officer Mike Wirth joins the “Sunday morning-end contracts” to discuss economic concerns, the implications for the company to decide to stop oil drilling in Venezuela and the president of President Trump for Iranian oil beneficiaries.
CEO of Chevron, Mike Wirth, has issued a striking warning as for the possible departure of the company from Venezuela as a license in the Biden era allowing the company to operate in the country should expire.
Chevron, who is not authorized to export that Venezuelan oil to the United States, was under pressure from the Trump administration to stop drilling in the politically turbulent nation.
But Wirth, who is currently negotiating with the administration, pleaded against concerns about energy security and increasing Chinese influence in the Western hemisphere.
Nearly 200 illegal Venezuelan immigrants detained in Guantanamo Bay returned home
“We have already seen this game book in Africa, Latin America, Central Asia,” Wirth told Maria Bartiromo on Sunday. “And China has created a stronger presence, stronger influence and control over economies and governments around the world using their economic assets and their position to do so.”
“I think this is an important question that is something that the administration thinks, and I think it is very suitable for them to keep this in mind.”
President Donald Trump Initially announced in February, he ended the license, calling for the biden agreement “ineffective and not satisfied”. He ordered American oil companies to start reducing their presence in the country from March 1.
The president and chief executive officer of Chevron, Mike Wirth, provides the last details on the potential merger of $ 53 billion from the company with Hess on the morning with Maria “.
“We reversed by this concessions that Joe Biden gave Nicolás Maduro, Venezuela, on the oil transaction agreement, dated November 26, 2022,” said Trump on Truth Social.
“In addition, the regime has not transported the violent criminals they sent to our country (the right ole ‘USA) in Venezuela At the rapid pace they had accepted. “”
The president would have reverse course In March, extending the license until May 27, According to CNBC.
Trump also demanded that all countries were buying a Venezuelan oil rate to pay a price of 25% during negotiations with the United States. Despite this, Wirth warned that if the company stops oil drilling in Venezuela, it will profoundly have the implications of national security and energy security.
Mike Wirth, President and CEO of Chevron Corp., during a Bloomberg television interview on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, Tuesday January 16, 2024. The annual gathering of Davos de Politics (Hollie Adams / Bloomberg via Getty Images / Getty Images)
“Refineries on the Gulf Coast are designed to manage this specific type of oil, and is therefore very important for energy security in the United States,” he said. “Rules changes mean that oil is not flowing in the United States now, so making us less secure.”
“China is in fact the largest Venezuelan oil buyer today, and I think that the discussions you refer, representatives of the Venezuelan government have been in China by encouraging China very recently to buy more … Politicians could lead even more to this business to China.”
He said that if Chevron stopped operations, this would create a void for Chinese and Russian companies to fill out.
“We are the only American company that remains on the ground in Venezuela, which is located just through the Gulf of America in our country,” he said.
“And if we were, like others, the production of continuous oil and American companies are replaced by companies from other countries, and historically, Chinese companies, Russian companies and others are not necessarily in the interest of America to see our hemisphere sold to companies from other countries with which we do not have the same types of relations.”
Despite the justification of Wirth, the chief of the Venezuelan opposition María Corina Machado – who also appeared on Fox News Channel, Sunday – praised Trump’s strategy as “absolutely correct and effective”, saying “Fox & Friends Weekend” that Maduro faces his “weakest position to date”.
“Maduro is the leader of the criminal structure who transformed Venezuela into a haven of drugs, the guerrilla warfare and the enemies of the Western hemisphere, such as Iran agents, Russia and other international criminal groups,” she said.
The chief of the Venezuelan opposition, Maria Corina Machado, breaks down Chevron’s negotiations with the Trump administration on operations in Venezuela and the “Fox & Friends Weekend”.
“What Maduro is currently authorizing is just crumbs to get out of Venezuela. But Venezuela is, at the moment, the country with the largest oil reserves in the world and also in gas,” she added. “So we can transform Venezuela from the Criminal Center for the Americas into Hub Energy of the Americas, but that can only happen with a democratic government.”
Chevron exports approximately 240,000 barrels per gross day of its operations in Venezuela, over a quarter of all of the country’s oil production.
Charles Creitz, Fox News, Anders Hagstrom and Reuters contributed to this report.
