Chevron's Venezuela Operations Under Review by Trump Administration
President Trump has announced that the US government is reviewing Chevron Corp.'s continued crude exports from Venezuela. This move signals a potential tightening of restrictions on the oil giant's operations in the South American nation.
"We're looking at that now," Trump told reporters in Florida. "We're looking at the whole situation." When asked if the administration would continue to allow oil exports through Chevron and other companies, Trump responded, "maybe not."
Despite sanctions limiting US business activities in Venezuela, Chevron has been able to maintain operations under contracts established in 2019. The company has increased synthetic oil exports through operational changes and equipment upgrades.
Representatives from Chevron have not yet responded to requests for comment.