Chevron license termination to lead to new oil offtaking pact in Venezuela, sources say

HOUSTON, Feb 27 (Reuters) - The announced cancellation of a key license for U.S. producer Chevron CVX.N to operate in Venezuela is expected to lead to the negotiation of a fresh agreement with state company PDVSA to export crude to destinations other than the U.S., sources close to the talks said.

As of Thursday, cargoes chartered by Chevron were departing as scheduled from Venezuelan ports bound for the U.S. The U.S. Treasury Department has not published the license's cancellation terms nor set a deadline to wind down exports.