The Treasury Department on Saturday said it would allow Chevron to resume pumping oil from Venezuela oil fields.
Sign at entrance to global headquarters of petroleum company Chevron in San Ramon, California, October 22, 2019. Photo by Smith Collection/Gado/Getty Imagesoil fields.The license, granted by the Treasury Department, would allow the California-based oil company to pump Venezuelan oil for the first time in years in joint ventures with Venezuela's national oil company Petróleos de Venezuela
It also signals an opening for other oil companies to resume their business in the South American country, two years after the Trump administration cracked down on companies’ activities there in an effort to put pressure and oust the Maduro government, theVenezuelan President Nicolás Maduro and the Unitary Platform, an opposition coalition, reached an agreement to implement a humanitarian program and continue negotiations to hold free and fair elections within the country.
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