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U.S. Mulls Extending Chevron’s Venezuela Waiver With More Limits

  • Sanctions reprieve would give company at least another 90 days
  • Chevron is the last major U.S. oil producer in Venezuela
VENEZUELA OIL

Photographer: Diego Giudice/Bloomberg

The Trump administration is considering an extension of Chevron Corp.’s waiver to operate in Venezuela, albeit with even greater limitations, according to people familiar with the matter.

The 90-day sanctions reprieve would allow Chevron to continue its role as the last major U.S. oil producer in the nation beyond the Oct. 25 expiration date. Still, the Treasury Department wants to advance its “maximum pressure strategy” to further limit Venezuela’s crude production, the people said.