The U.S. Treasury Department has extended Chevron’s exemption from sanctions on Venezuela. This decision will allow the company to continue operating in the South American country until October 25. Chevron is the only U.S. oil operator that has remained in Venezuela since Washington expanded trade restrictions to include deals with the national oil company PdVSA in January.
Venezuela’s opposition-led parliament has tried to reassure Chevron on this front. Earlier in the week, it pledged that Interim President Juan Guaido would protect the company if he formed a government.
The Treasury Department extended Chevron’s waiver from sanctions several days after the National Assembly issued a statement to that effect.