President Trump recently posted he would revoke a Biden-era policy that allowed more oil to be produced in Venezuela and exported, a decision that deals a blow to both the country’s government and Chevron (CVX), Rebecca Elliott of The New York Times reports. While Trump did not mention Chevron directly, he said he plans to reverse concessions granted on November 26, 2022, which is when the Treasury Department gave Chevron permission to expand operations in Venezuela. Chevron’s license is up for renewal on March 1.
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