US Treasury Allows Chevron to Wind Down Venezuela Venture

The US is permitting Chevron to conclude transactions with its Venezuelan joint venture until April 2025. This follows the revocation of Chevron's oil license in Venezuela by President Trump, with no immediate comment from Venezuelan officials.

The United States government has announced that Chevron can continue winding down certain transactions related to its joint venture with Venezuela. This allowance extends until April 3, 2025, according to a notice posted on the U.S. Treasury Department's website.

This decision follows President Donald Trump's recent termination of Chevron's oil license in Venezuela. The move impacts Chevron's operations in the region significantly, although the company has been granted this transitional period to manage its affairs.

Representatives of the Venezuelan government have yet to offer any comments or reactions to this development. The situation remains fluid, with potential implications for both U.S. and Venezuelan energy sectors.

(With inputs from agencies.)