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Bloomberg
Chevron Corp will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regime’s crumbling oil industry another blow as US President Donald Trump maneuvers for regime change in the Latin American nation.
The US Treasury Department will no longer allow the company to drill wells, sell and buy crude oil or oil products or transport them, according to the Office of Foreign Assets Control. Chevron is authorised to ensure the integrity of operations and assets in Venezuela through December 1.
The decision also affects four US oilfield service providers: Halliburton, Schlumberger, Baker Hughes and Weatherford International. “Chevron will continue to comply with applicable laws and regulations in relation to the activities that it is authorised to undertake in Venezuela,†the firm said.