Trump to End Chevron License in Venezuela in Blow to Maduro
An oil refinery on Lake Maracaibo in Maracaibo, Venezuela.
Photographer: BloombergThis article is for subscribers only.
President Donald Trump said he plans to revoke Chevron Corp.’s oil license to operate in Venezuela, threatening to torpedo the nation’s slow economic recovery.
The US president referred to a concession agreement from November 2022, which would match the date that Chevron was granted a license to produce and sell oil in Venezuela despite sanctions against Nicolás Maduro’s authoritarian government. Under the terms of the license, Chevron would have a six-month wind-down period to exit Venezuela.