Biden renews sanctions license for Chevron in Venezuela

KIFI

Published May 27, 2022 9:29 AM

By JOSHUA GOODMAN
Associated Press

MIAMI (AP) — The Biden administration has renewed a license partially exempting Chevron from sanctions on Venezuela so it can keep operating in the oil-rich, socialist-run nation. The license issued Friday by the U.S. Treasury Department allows the California-based Chevron and other U.S. companies to perform only basic upkeep of wells it operates jointly with state-run oil giant PDVSA. Some in the Biden administration had been pushing for an expanded license so that Chevron would be allowed to resume exports and ease pricing pressure at American pumps.

Article Topic Follows: AP National Business

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