The central bank did not respond to requests for comment. Private banks do not typically share the total amount offered on their exchanges. Exchanges are largely made with companies.Īccording to local consulting firm Sintesis Financiera, the central bank offers between $40 million and $50 million per week. The central bank also sells dollars, mostly the product of oil sales.
"Our focus is on supporting safe and reliable operations." Office of Foreign Assets Control," Chevron said in response to a request for comment. "We continue to conduct our business in compliance with all laws and regulations, as well as the sanctions framework provided by the U.S. Since February the company has offered between $20 million and $30 million each week at exchanges run by private local banks, two of the sources said. it needs resources in Venezuela for the production at its fields to rise," said Asdrubal Oliveros, director of local analyst firm Ecoanalitica. "Chevron has to meet its commitments in bolivars. in April.Ĭhevron brings back some of its export earnings to Venezuela, exchanging them for the hugely devalued bolivar currency so it can pay taxes and other local expenses, the three sources said, as the government keeps the exchange rate stable in a bid to control inflation. It received and exported about 148,000 barrels per day of Venezuelan heavy crude to the U.S.
sanctions, with special authorization from Washington. Chevron operates in Venezuela, which is under U.S.
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