Trump Reverses Policy To Let Chevron Resume Operations In Venezuela

Benzinga

Trump is reportedly moving to allow Chevron to resume oil operations in Venezuela, according to Benzinga. The decision reverses an earlier policy and softens his stance toward President Nicolás Maduro’s regime. The decision follows a prisoner swap with Caracas and a meeting at the White House with Senator Marco Rubio and Ric Grenell, according to The Wall Street Journal. During the meeting, Trump recognized Rubio's opposition to Maduro but emphasized prioritizing American companies for access to Venezuela's oil. Chevron would be allowed to operate in Venezuela without paying royalties or taxes to Maduro's government, though full deal terms remain unclear. A State Department official said the U.S. will prevent Maduro from profiting, aligning with Rubio’s push to end deals that benefit the regime. The company's shares rose 0.07% to $155.94 in after-hours trading.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Trump is moving to let Chevron resume oil operations in Venezuela, according to Benzinga.

00:07The decision reverses an earlier policy and softens his stance towards President Nicolas

00:11Maduro's regime. The decision files a prisoner swap with Caracas in a White House meeting with

00:15Senator Marco Rubio and Rick Greeno, according to the Wall Street Journal. During the meeting,

00:20Trump recognized Rubio's opposition to Maduro, but emphasized prioritizing American companies

00:24for access to Venezuela's oil. Chevron would be allowed to operate in Venezuela without paying

00:28royalties or taxes to Maduro's government, though full deal terms remain unclear. State Department

00:34officials said the U.S. will prevent Maduro from profiting, aligning with Rubio's push to end

00:38deals that benefit the regime. Company shares rose 0.07% to $155.94 in after-hours trading.

00:45For all things money, visit Benzinga.com.

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