U.S. Set to Grant Chevron Limited License for Venezuela Operations

Published 1 hours agoCVX

U.S. Set to Grant Chevron Limited License for Venezuela Operations

The U.S. government is on the verge of issuing a narrow waiver to Chevron, enabling it to carry out minimal maintenance and vital safety operations in Venezuela. This decision, coming from the U.S. Treasury Department, is crucial as Chevron's current operational license is nearing its expiration date. Reuters reported that while the license allows for necessary upkeep, it does not permit any new drilling or efforts to increase production.

Chevron's limited license aims to maintain essential safety and operational standards without expanding its current activities in Venezuela. This comes as a strategic move in a broader geopolitical context where oil production activities in Venezuela have seen a subtle resurgence since 2023, partly due to international companies like Chevron continuing their limited operations.

The backdrop to this development includes notable geopolitical and political dynamics. Earlier in 2025, President Trump rescinded a license previously given to Chevron, highlighting unmet electoral commitments and logistical delays in deportations. The move to issue this new limited license occurs alongside escalating political tensions, with the Venezuelan opposition urging election boycotts and the government solidifying its position ahead of elections, as reported by AP News.

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U.S. Set to Grant Chevron Limited License for Venezuela Operations

U.S. Set to Grant Chevron Limited License for Venezuela Operations

The U.S. government is on the verge of issuing a narrow waiver to Chevron, enabling it to carry out minimal maintenance and vital safety operations in Venezuela. This decision, coming from the U.S. Treasury Department, is crucial as Chevron's current operational license is nearing its expiration date. Reuters reported that while the license allows for necessary upkeep, it does not permit any new drilling or efforts to increase production. Chevron's limited license aims to maintain essential safety and operational standards without expanding its current activities in Venezuela. This comes as a strategic move in a broader geopolitical context where oil production activities in Venezuela have seen a subtle resurgence since 2023, partly due to international companies like Chevron continuing their limited operations. The backdrop to this development includes notable geopolitical and political dynamics. Earlier in 2025, President Trump rescinded a license previously given to Chevron, highlighting unmet electoral commitments and logistical delays in deportations. The move to issue this new limited license occurs alongside escalating political tensions, with the Venezuelan opposition urging election boycotts and the government solidifying its position ahead of elections, as reported by AP News.

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