Chevron gets temporary waiver for Venezuela operations

The U.S. Treasury Department has granted permission for Chevron (NYSE:CVX), the last major U.S. oil company operating in Venezuela, to continue working in the country until April 22.

The company posted a $104M loss on its Venezuela operations for the nine months ended Sept. 30, and would lose about $2.7B in assets if required to leave the country.

Sanctions last year barred imports of Venezuelan oil, as well as transactions made in U.S. dollars with Venezuela’s state-run oil giant PDVSA.


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