US Treasury extends license to Chevron in Venezuela

File photo.  The Chevron logo in Los Angeles

© Reuters/Lucy Nicholson
File photo. The Chevron logo in Los Angeles

WASHINGTON, Nov 24 (Reuters) – The U.S. Treasury Department extended licenses for U.S. oil companies, including Chevron, operating in Venezuela until June 1, 2022, until June 2022.

The licenses authorize transactions with Venezuela’s state oil company PDVSA that are necessary for the maintenance or liquidation of operations. The license also applies to Halliburton service companies, Schlumberger Limited, GE’s Baker Hughes business, and Weatherford International.

In January 2019, the United States imposed strong sanctions on PDVSA, which prohibit Venezuelan oil imports and transactions carried out in US dollars, a measure to cut currencies and force the departure of President Nicolás Maduro.

But it granted Chevron a six-month license to operate, which has been renewed several times.

(Reporting by Timothy Gardner and Tim Ahmann)

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