Source: OilPrice.com
“President Donald Trump has canceled a sanction waiver for Chevron that has allowed the supermajor to return to the South American country and become instrumental for the increase of its oil production. Trump cited the lack of electoral reform in Venezuela, Reuters reported, along with insufficient action on migration. … Chevron has been exporting some 240,000 barrels of Venezuelan crude to the United States daily thanks to the waiver. The amount constitutes a quarter of the country’s total oil production and generates substantial revenues that stay in the Venezuelan economy, Bloomberg reported earlier this week, arguing Chevron’s presence was critical for that economy. These revenues are running at some $6 billion.” (02/27/25)
https://oilprice.com/Latest-Energy-News/World-News/Trump-Cancels-Chevron-Venezuela-License.html