Economics
Chevron Wins Venezuela Waiver Extension As Sanctions Bite
- Schlumberger, Halliburton also get extensions to their waivers
- Chevron has maintained a presence in Venezuela since the 1920s
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The Trump administration extended Chevron Corp.’s waiver to operate in Venezuela, allowing the second-largest U.S. oil explorer to keep its toehold in the crisis-stricken Latin American nation as U.S. sanctions severely restrict crude exports.
The 90-day reprieve lets Chevron continue its role as the last major U.S. oil producer in the country until Jan. 22. The Treasury Department on Monday also extended waivers for four U.S. oil services providers: Baker Hughes Co., Halliburton Co., Schlumberger Ltd. and Weatherford International Ltd.