11/27/2022, 12:45 AM (Source: TeleTrader)
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Chart for: Chevron Corp

Chevron gets green light to pump oil in Venezuela

The United States Treasury authorized Chevron Corp. to resume oil production in Venezuela. The decision was made after the Venezuelan government and the opposition agreed to engage in negotiations on humanitarian relief and other issues.

However, US officials noted that the move is intended as "an inducement for the negotiations" and that Chevron's output will not be substantial enough to influence the price of oil on international markets. The license issued by the Treasury is valid for six months and can be extended.

Baha Breaking News (BBN) / DJ