Chevron & European Oil Firms Urge Continued Access to Venezuela

Chevron Corporation (CVX) , along with several European oil companies, is actively engaged in high-level negotiations with the Trump administration to retain stakes in joint ventures with Venezuela’s state-owned oil firm, Petróleos de Venezuela, S.A.  (“PDVSA”), according to Reuters. These talks follow the U.S. government’s decision in March to revoke longstanding licenses that previously allowed limited operational continuity between international firms and PDVSA amid ongoing sanctions. Revoked Licenses Di ...