Chevron (CVX) in Talks to Expand Oil License in Venezuela

Group 1 - Chevron Corporation (NYSE:CVX) is the only American oil company still operating in Venezuela, holding about 25% of operations and producing approximately 250,000 barrels per day [3][4] - The company is currently in talks with the US government to expand its oil license, aiming to return to previous export levels and provide Venezuelan crude to business partners for allocation in markets outside the US [5][6] - Chevron's established presence in Venezuela positions it favorably in accessing the world's largest oil reserves, with the potential to increase output by 100% almost immediately [6] Group 2 - The Trump administration previously imposed restrictions on Chevron's export volumes, reducing them from 250,000 bpd to around 100,000 bpd as part of efforts to pressure the Maduro regime [4] - Following the ousting of the Maduro regime, Chevron is seeking to regain its previous operational capabilities and expand its role in the Venezuelan oil market [5] - Chevron manufactures and sells a variety of refined products, including gasoline, diesel, and aviation fuels, indicating a diversified product portfolio [2]