MIAMI – President Donald Trump announced Wednesday that in March Chevron Corp. will no longer have a license to produce and export oil in Venezuela.
Trump wrote on Truth Social that the decision was “reversing the concessions” that former President Joe Biden gave Nicolás Maduro on Nov. 26, 2022.
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“The regime has not been transporting the violent criminals that they sent into our Country ... back to Venezuela at the rapid pace that they had agreed to,” Trump wrote.
Richard Grenell, Trump’s special envoy, met with Maduro on Jan. 31 in Caracas to arrange the release of six U.S. citizens held in Venezuela.
The White House announced Grenell had persuaded Maduro to take back deported migrants. On Feb. 1, the Trump administration announced the Temporary Protected Status for Venezuelans was set to end on April 7.
On Feb. 18, in Mar-a-Lago, Trump said Chevron’s partnerships with Petroleos de Venezuela SA, or PDVSA, Venezuela’s state oil company, were under review.
Earlier this week, Bill Turenne, a spokesman for Chevron, told Bloomberg that the Houston-based company “has been a constructive presence in Venezuela.”
Earlier this month, Reuters reported data based on vessel movements showed “Venezuela’s oil exports rose 15% to some 867,000 barrels per day in January, driven by an increase in shipments” by Chevron.