The US license to again allow Chevron to export crude from Venezuela is private and not a general one of which details are made public, Venezuelan interior minister Diosdado Cabello said.
"It is a private agreement, as befits this type of strategic operation," he said late on Wednesday.
But a source with Chevron's operations in Venezuela say that personnel have yet to receive details of any license from the US Treasury Department's sanctions enforcement arm, Office of Foreign Assets Control (Ofac).
"We are still missing that Ofac license", the source said on Wednesday afternoon.
Ofac since 2019 issued "general licenses" regulating Chevron's activities in Venezuela in the context of US sanctions, meaning that the authorization and its terms were made public. The most recent such license directed Chevron to wind down nearly all operations in Venezuela after 27 May.
Chevron is the largest foreign company present in the Venezuelan upstream operations. Other US and foreign companies typically received private licenses authorizing their business activities despite US sanctions. Ofac does not disclose the existence or terms of private sanctions waivers.
The agreement will benefit the administration of Venezuelan president Nicolas Maduro financially, Cabello said. The US has had previously said sales will only count against Venezuela's debts with Chevron. Cabello said the license will allow Chevron to make tax and royalty payments.
Chevron, "will be able to make decisions in their joint ventures, contribute to making purchases and pay contracts", he said.
The US has deployed sanctions against Venezuela over allegations of election meddling and human rights abuses, and Maduro's political opposition has called on the US to restrict anything that helps sustain the Maduro regime.
The return of a license would come as Venezuela's is running lower on condensates needed for upgrading its Orinoco heavy crude. Chevron was previously allowed to import this for operations. Sources told Argus that state-owned oil company PdV was down to a 60-day supply of condensate.
