Al Jazeera on 26th July reported that the Trump Administration has renewed Chevron’s licence to drill for oil and gas in Venezuela despite sanctions. The US Treasury renewed the licence for 3 months to 25th October, with Chevron being the last US oil company operating in Venezuela. Chevron, which has had a presence in the country for a century, has 4 joint ventures with PDVSA in Venezuela. The US Treasury also renewed licences for 3 months for 4 oil-field service companies, all have largely halted operations in Venezuela because of the instability.
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