Luis A. Pacheco, nonresident fellow at the Baker Institute Center for Energy Studies: “The new license announced this week (GL 41b) requires Chevron to wind down all operations involving Venezuelan oil and PDVSA by May 27. However, it is not clear whether Chevron will keep a presence in the country to safeguard its investment and assets. President Trump’s policy shift follows Nicolás Maduro’s declaration of victory in what was widely considered a rigged election in July 2024, despite Biden’s earlier strategy of relaxing sanctions in exchange for promises of free elections and political reform. Chevron’s operations currently account for approximately 25 percent of Venezuela’s oil production—210,000 barrels per day. Two possible scenarios emerge from this development: Either PDVSA successfully takes over Chevron’s joint ventures while maintaining production levels…”
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A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
Nigel Blackaby
Global Head, International Arbitration Group,
Freshfields Bruckhaus Deringer
Jimena Blanco
Chief Analyst,
Verisk Maplecroft
María José Cortés
Head of ESG,
Atlas Renewable Energy
Jeffrey Davidow
Senior Counselor,
The Cohen Group
Analia Gonzalez
Leader, Arbitration & Litigation,
Laitn America, BakerHostetler
Jonathan C. Hamilton
Partner,
White & Case
Raul Herrera
Partner, Corporate &
Securities Practice,
Arnold & Porter
James R. Jones
Chairman,
Monarch Global Strategies
Jorge Kamine
Partner, Corporate &
Financial Services,
Willkie Farr & Gallagher
Craig A. Kelly
Senior Director,
Int’l Government Relations,
Exxon Mobil
Jeremy Martin
Director,
Energy Program,
Institute of the Americas
Larry Pascal
Chairman, Americas
Practice Group,
Haynes & Boone
R. Kirk Sherr
President,
Clearview Strategy Group
Daniela Stevens
Director,
Energy Transition and Climate Program,
Inter-American Dialogue
Doris Rodríguez
Partner,
Hunton Andrews Kurth
Alexandra Valderrama
Director,
International Government
Affairs, Chevron
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