The U.S. Treasury Department on Saturday renewed a license allowing Chevron, the...
FILE PHOTO: The logo of Chevron is seen at the company's office in Caracas, Venezuela April 25, 2018. REUTERS/Marco Bello
In January, the United States imposed sanctions on Venezuela’s state-run oil company PDVSA in an effort to oust President Nicolas Maduro, though he remains in power. The Treasury issued Chevron a six-month license to operate, however, which has been renewed in three-month periods. The Treasury Department said the license does not authorize transactions related to shipments of diluents, which Venezuela needs to thin its heavy oil for processing.
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