PDVSA: State Oil Firm PDVSA to Take Over Chevron Operations in Venezuela

PDVSA, the state oil firm of Venezuela, will continue to produce alone crude from its joint ventures with Chevron after the Trump Administration axed the U.S. supermajor's license to operate in the South American country, Reuters reports, citing a PDVSA document it has seen. At the end of February, U.S. President Donald Trump canceled a sanction waiver for Chevron that allowed the supermajor to return to Venezuela and become instrumental for the increase of its oil production. President Trump cited the lack of electoral reform in Venezuela,...