Chevron Is in Contact With Trump Administration Over Venezuela

(Bloomberg) -- Chevron Corp. is in communication with the Trump administration as some Republicans call for the US to revoke the company’s license to operate in Venezuela.

 “We are in contact with the current administration,” Chevron Chief Executive Officer Mike Wirth said in an interview Wednesday on Bloomberg Television. “We work closely with the government to understand their objectives, to understand their limitations.”

Chevron is the only major oil producer with a waiver from the US government to operate in Venezuela despite sanctions against President Nicolás Maduro’s regime. The company produces about 20% of Venezuela’s oil and helped boost exports to a five-year high in 2024, nearing Maduro’s goal of 1 million barrels per day.

Secretary of State Marco Rubio and other foreign-policy hawks, however, say Chevron provides a financial lifeline for Maduro’s regime to enrich itself and suppress civil rights. 

Wirth said Chevron tries to help officials in Washington understand the potential ramifications of Chevron pulling out of Venezuela, including the impact on US refiners that depend on the heavy crude produced there.  

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