CVX

Energy giant Chevron (NYSE:CVX) could soon win the Biden administration’s approval to resume drilling activities in Venezuela, provided talks between the Venezuelan government, led by President Nicolás Maduro, and the opposition are resumed. As per Reuters, which cited people familiar with the matter, the U.S. treasury could grant Chevron a new license as early as Monday or Tuesday. Venezuela has been under U.S. sanctions for several reasons, including terrorism, drug trafficking, its anti-democratic stance, human rights violations, and corruption. In 2019, the former U.S. President Donald Trump’s administration imposed stringent oil sanctions on Venezuela as part of its efforts to oust Maduro.
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