U.S. oil major Chevron says hopeful about maintaining Venezuela presence

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U.S. oil major Chevron says hopeful about maintaining Venezuela presence
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U.S. oil major Chevron Corp said late on Friday it is optimistic about maintaini...

) said late on Friday it is optimistic about maintaining a presence in Venezuela even amid U.S. sanctions on the country and state oil company PDVSA as part of Washington’s effort to oust President Nicolas Maduro.

The company’s remarks follow an earlier report by Bloomberg that said the United States is considering extending Chevron’s waiver to operate in Venezuela with more limitations by granting the company a 90-day sanctions reprieve. Chevron’s future in Venezuela now depends on U.S. President Donald Trump, who must decide by Oct. 25 whether to renew the waiver allowing the company to keep operating in Venezuela despite U.S. sanctions.

The report added, however, that the United States also wants to maintain a presence in Venezuela’s oil industry in case of a political transition.

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