Chevron terminates contracts, but will keep staff in Venezuela, sources say
ReutersMay 28, 2025 5:14 PM
May 28 (Reuters) - Chevron CVX.N has terminated the oil production, service and procurement contracts it had to operate in Venezuela, delegating its joint-venture governance to its partner, state company PDVSA, but it plans to retain its direct staff in the country, four sources close to the decisions said.
A key license for Chevron to operate in Venezuela was revoked by U.S. President Donald Trump's administration in March and a two-month period granted to wind down transactions expired this week.
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