Will Trump let Chevron stay in Venezuela?
WASHINGTON (AP) — Chevron was nearly booted from Venezuela in 2007 during a nationalization drive led by the late socialist President Hugo Chavez. Twelve years later, it faces a similar threat from an unlikely corner: the White House.
The Trump administration is facing a July 27 deadline to renew a license granting Chevron permission to continue operating in Venezuela despite U.S. sanctions that are aimed at ousting President Nicolás Maduro by choking off oil revenue.
Chevron has operated in the South American country for almost a century and its four joint ventures with state-run oil monopoly PDVSA currently produce about 200,000 barrels a day.
For Trump, it’s a dilemma. The president prides himself on being a booster of Big Oil. But he’s also taken several bold steps to oust Maduro.