US Extends Chevron’s Deadline to Wrap Up Venezuela Operations

The Trump administration extended Chevron Corp.’s deadline to halt its operations in Venezuela, following lobbying efforts by the Texas-based oil giant.

US officials granted Chevron through May 27 to wrap up its operations with state-owned driller Petroleos de Venezuela SA, according to a notice posted on the US Treasury Department website.

Read More: US Poised to Extend Chevron Venezuela Oil Deadline

Chevron, the only US oil company still in Venezuela, has been allowed to operate there despite US sanctions under a waiver from the US Treasury. The company produces about one-fifth of Venezuela’s crude output, making it a crucial force ...