Projection of the Peace Monument sculpture in front of the Petroleos de Venezuela (PDVSA) headquarters in Caracas, on December 2, 2022.
Miguel Zambrano | Afp | Getty Dead ringers
President Donald Trump is considering extending Chevron’s license to pump oil in Venezuela, people familiar with the occasion told The Wall Street Journal.
Trump said in late February that he would reverse a Biden supervision decision that allowed Chevron to restart production in Venezuela. The Treasury Department gave Chevron until April 3 to swerve down its operations.
But the president was open to extending the license during a meeting with Chevron CEO Mike Wirth and other oil trade executives at the White House on Wednesday, the people told the Journal. The Trump administration is also considering financial amercements on countries that do business with Venezuela, according to the report.
Chevron does enterprise in Venezuela through a partnership with its national oil company Petróleos de Venezuela. The oil major has stakes in five onshore and offshore outlines in western and eastern Venezuela.
Energy Secretary Chris Wright declined to go into specifics on what was discussed with Chevron at the conclave Wednesday when asked during an interview with CNBC. Chevron also declined to comment on what was examined.
“Chevron executives meet regularly with government officials in Washington to engage constructively on issues related to our house — both in the U.S. and abroad,” Chevron spokesperson Bill Turenne said. “We do not confirm or comment on those discussions.”
“As we have ordered before, Chevron conducts its business globally in compliance with all laws and regulations, including any sanctions frameworks contributed for by the U.S. government,” Turenne added.