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Chevron 'Hopeful' of US Approval to Continue Operating in Venezuela

Reuters

   HOUSTON/WASHINGTON - Chevron, the last U.S. oil company operating in
   Venezuela, said Thursday it hopes to be able to remain in the Latin
   American nation as the Trump administration mulls whether to renew its
   license, expiring on Saturday, to do business there.

   The administration said a decision will be made soon on the renewal of
   Chevron's six-month U.S. Treasury Department license to operate in
   Venezuela, with billions of dollars in the company's investments at
   stake. The administration in January imposed sanctions on PDVSA,
   Venezuela's state-run oil company, intended to starve the country of
   oil revenue and force out President Nicolas Maduro.

   The United States has said it considers Maduro's re-election last year
   illegitimate and has recognized opposition leader Juan Guaido, who
   invoked the country's constitution in January to declare himself
   interim president, as Venezuela's leader.

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