Chevron Seeks Expanded US License for Venezuela Oil Exports Amid Sanctions Talks

• Chevron is negotiating with the US government to expand its license for Venezuelan oil operations.
• The expansion aims to increase crude exports to its refineries and allow sales to other buyers.
• US and Caracas are discussing supplying up to 50 million barrels of Venezuelan oil to the US.
• Proceeds from Venezuelan oil supply are intended to finance American goods for Venezuela via a US-overseen trustee.
• The Trump administration previously restricted Chevron's license, reducing exports from 250,000 bpd to 100,000 bpd.

Why It Matters: Chevron seeks expanded Venezuela oil license as US and Caracas discuss broader oil supply and sanctions relief.