U.S. rescinds Chevron license to pump oil in Venezuela, WSJ reports

The U.S. Treasury Department is formally rescinding a Biden-era license allowing Chevron (CVX) to pump oil in Venezuela, giving the oil major 30 days to wind down operations, the Wall Street Journal’s Collin Eaton and Patricia Garip report. The move marks a major about-face for the Trump administration, as White House special envoy Richard Grenell met with Venezuelan President Nicolas Maduro in late January to strike a deal for Maduro to resume accepting deportees with an understanding that oil licenses would continue to be in effect for the time being, the authors says, citing people familiar with the deliberations.