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US considers extension of Chevron’s Venezuela waiver with more limitations: Bloomberg

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The United States is considering extending Chevron Corp's waiver to operate in Venezuela with more limitations by granting the company a 90-day sanctions reprieve, Bloomberg reported late on Friday, citing people familiar with the matter.

The logo of Chevron is seen at the company's office in Caracas, Venezuela April 25, 2018. REUTERS/Marco Bello

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REUTERS: The United States is considering extending Chevron Corp's waiver to operate in Venezuela with more limitations by granting the company a 90-day sanctions reprieve, Bloomberg reported late on Friday, citing people familiar with the matter.

The company's future in Venezuela now depends on U.S. President Donald Trump, who must decide by Oct. 25 whether to renew a waiver allowing Chevron to keep operating in Venezuela despite U.S. sanctions on the country and its state oil company PDVSA, part of Washington's campaign to oust socialist President Nicolas Maduro.

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The U.S. Treasury Department aims to further limit Venezuela's crude production and is concerned that Chevron's joint venture projects in Venezuela are providing financing to help Maduro's government pay back its debt to Russian oil company Rosneft PJSC, Bloomberg reported. This could encourage more loans in the future.

The report added, however, that the United States also has a desire to maintain a presence in Venezuela's oil industrRead More – Source

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