There is no official confirmation, but Chevron is continuing its operations in Venezuela for another sixty days. Neither the Treasury Department nor the Office of Foreign Assets Control (OFAC) has made a statement, but the Trump administration would extend the timeline for the American oil company to remain in Venezuelan territory by two months.
Reuters and The Wall Street Journal had already reported this, and now Bloomberg adds that the extension for Chevron Corporation to halt its operations in Venezuela is in effect while the United States negotiates with Nicolás Maduro’s regime on issues such as the repatriation of Venezuelans and the fate of American detainees.
In March 2025, Donald Trump’s administration revoked Treasury License 41, which allowed Chevron to operate in Venezuela. Initially, the company had until April 3 to exit Venezuela, but the OFAC extended the deadline to May 27.
Chevron’s Operations in Venezuela
The U.S. government, according to the agency, would announce this on the same day Richard Grenell, envoy of President Trump, traveled to Antigua to meet with members of Maduro’s regime.
What’s clear is that Chevron’s operations in Venezuela are significant, as it produces about 25% of Venezuelan crude oil, roughly 220 thousand barrels per day. Therefore, ceasing its activity would be a severe blow to Maduro’s regime finances.
According to sources from Venezuela Política, Mike Wirth, CEO of Chevron, had a meeting with Trump, as well as with Secretary of State Marco Rubio and Treasury Secretary Scott Bessent, to request an extension of at least 60 days. The fact that Chevron is maintaining operations in Venezuela for a bit longer may be a result of this meeting.
Chevron represents key economic interests, and its exit could benefit other countries. Most importantly, the U.S. president linked this decision to the deportation of Venezuelan migrants.
Other reports indicate that Richard Grenell would return from this meeting with Joseph St. Clair, a veteran of the U.S. Air Force who had been detained in Venezuela.
Check out Sin Filtros “EXCLUSIVE | Chevron’s Plan to Stay in Venezuela”: