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Chevron (NYSE: CVX) is lobbying U.S. officials to extend its deadline for winding down operations in Venezuela, according to the Wall Street Journal. The Biden administration recently set an early April cutoff, giving the oil giant 30 days to cease oil operations and exports under a 2022 license.
Chevron CEO Mike Wirth reportedly held private talks with Secretary of State Marco Rubio and Treasury Secretary Scott Bessent, requesting an additional 60 days to facilitate an orderly withdrawal. The company has yet to comment publicly on the matter.
Chevron’s presence in Venezuela has been a critical link for crude exports to the U.S., and the forced exit could impact both supply chains and geopolitical relations. Washington’s tightening stance follows ongoing tensions with Venezuela’s government, but the oil major is pushing for flexibility to mitigate disruptions.
With energy markets already sensitive to global supply shifts, the outcome of Chevron’s lobbying efforts could influence oil prices and trade policies in the coming weeks.
