Chevron (CVX) is expected to have its deadline to cease operations in Venezuela extended by another 60 days as the Trump administration continues negotiations with President Nicolas Maduro's government over repatriation flights and the status of American detainees, Bloomberg reported Tuesday, citing a person familiar with the situation.
The extension was expected to be announced later Tuesday, as President Trump's envoy, Richard Grenell, traveled to Antigua for talks with Maduro's representatives, the person told Bloomberg.
Chevron, operating in Venezuela under a US Treasury Department's waiver despite sanctions, is a key contributor to the country's oil sector, accounting for about 20% of its total production, the report said.
The White House didn't immediately respond to Bloomberg's request for comment.
The White House and Chevron didn't immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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