Trump Cancels Venezuela Waiver, Adding to Chevron’s Headache - US President Donald Trump has now turned to restrict Venezuela’s oil industry, reversing a 2022 general license that allowed Chevron to boost its production in the South American country to more than 220,000 b/d. - Chevron’s return to Venezuela helped Caracas reverse a multi-year decline in oil production, with the US oil major bringing much-needed capital and technology, all the while sending some 60,000 b/d of naphtha to dilute heavy Venezuelan barrels. - The US…
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