New U.S. License Gives Chevron Until June 3 to Wind Down Venezuela Operations

The new license, which also applies to Halliburton HAL.N, Schlumberger Ltd SLB.N, GE company Baker Hughes GE.N and Weatherford International, continues the restrictions imposed in the last waiver and does not authorize the companies to drill, sell, ship or trade Venezuelan oil.

RIO DE JANEIRO, BRAZIL - The U.S. Treasury Department on Tuesday issued a new license to Chevron Corp CVX.N, the last major U.S. oil company still operating in Venezuela, giving it until June 3rd to wind down its joint ventures in the OPEC member nation.

The United States last year imposed sanctions barring imports of Venezuelan oil and transactions made in U.S. dollars with Venezuela’s state-run oil company PDVSA, a move designed to starve the country of oil dollars and oust socialist President Nicolas Maduro.

Chevron has had a special U.S. operating license exempting . . .

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