Chevron has returned to Venezuela, but the move may prove problematic given the frictions in the US–Venezuela relations. What appears at first as an oil company regaining lost ground could be in fact another failed attempt to normalize oil production in Venezuela, marred by high-stakes political games. The seesawing of US policy on Venezuela began in 2019, when Donald Trump’s first administration imposed sweeping sanctions on Venezuela’s state oil company PDVSA. The measures prohibited any US persons and companies from doing business…
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