Exclusive-US moving fast to expand Chevron's Venezuela license, Energy Secretary Wright tells Reuters [Yahoo! Finance Canada]
Chevron Corporation (CVX)
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Source: Yahoo! Finance Canada
WASHINGTON, Jan 16 (Reuters) - The U.S. is moving as fast as it can to grant Chevron an expanded license for its oil production in Venezuela, ?U.S. Energy Secretary Chris Wright told Reuters on Friday. The U.S. plans to let Chevron ?compensate the Venezuelan government with cash instead of crude, which will let the company sell all the oil it produces ?in the country, Wright said. "So they become immediately, another marketer of crude as well," he said in a brief interview at the U.S. Energy Department headquarters. Chevron, to comply with its current license, has been paying Venezuela's government royalties and taxes with oil in kind instead of cash, effectively reducing what ?it can export to about 50% ?of the crude it produces in the country. The administration of President Donald Trump has been working to re-activate the Venezuelan oil industry after Nicolas ?Maduro was removed from power earlier this month. Reuters reported this week that the Houston-based company is exp
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CVX
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- 1/14/26 - Form 144
- 1/7/26 - Form 4
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