Trump Ends Chevron's Venezuela Oil Operations Over Maduro's Stalled Reforms

The U.S. Treasury has given Chevron 30 days to cease operations, citing lack of progress on electoral reforms and migrant returns under Nicolás Maduro.

• President Trump revoked a Biden-era license allowing Chevron to operate in Venezuela, setting an April 3 deadline for the company to wind down operations.
• The U.S. cited Maduro's failure to implement electoral reforms or expedite the return of deported migrants as reasons for the decision.
• Chevron's exit could cut Venezuela's oil output by over 200,000 barrels per day and shrink its economy by up to 7.5% this year, according to analysts.
• Venezuela's oil exports had risen in February, with Chevron accounting for a significant portion of shipments to the U.S., its second-largest market.
• The decision has drawn criticism from Venezuelan officials and analysts, who warn it may push more oil exports toward China and further destabilize the region's economy.

5 Articles

One America News Network New York Post