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.)
Price: 137.87, Change: -0.62, Percent Change: -0.45
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.