The U.S. is poised to grant a license to Chevron to pump oil in Venezuela, a policy shift that would ease yearslong sanctions and could open the door for other oil companies to do business there
The U.S. is poised to grant a license to Chevron Corp. to pump oil in Venezuela, a policy shift that would ease yearslong sanctions and could open the door for other oil companies to do business there.
The U.S. oil company would regain partial control of its oil-production and maintenance activities in dilapidated Venezuelan oil fields it has retained stakes in through joint ventures with the state-run oil company Petróleos de Venezuela SA It wouldn’t make new investments there until certain debts are repaid, which could take years, according to people familiar with the matter.
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