Chevron barred from drilling, transporting oil in Venezuela: U.S official [Reuters]
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Source: Reuters
Chevron barred from drilling, transporting oil in Venezuela: U.S official WASHINGTON (Reuters) - Chevron’s assets in Venezuela have been mothballed and the company is not allowed to drill, transport or barter oil there as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said. Seeking to increase pressure on Maduro, the U.S. Treasury Department late on Tuesday imposed tight new restrictions on Chevron’s joint ventures with Venezuelan state-run oil company PDVSA, which could pave the way for the California-based company’s departure. The license “tightens and prohibits the ability for Chevron or any American company, to lift, barter, sell, deal with oil or petroleum products with the Maduro regime,” the U.S. official told reporters in a call. The license prohibits Chevron, which has been in Venezuela for about 100 years and is the last U.S. oil company operating there, from drilling. But it allows Chevron
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