RE: Keep calm....19 Jun 2019 20:45
SAN RAMON (CBS SF / CNN) — Chevron’s nearly century-long relationship with Venezuela might not survive the Maduro regime’s fight with the United States. Not only is Venezuela’s infrastructure crumbling, but the OPEC member’s national oil company has been sanctioned by the Trump administration.
Chevron, based in San Ramon and the last major US oil company still operating in Venezuela, could be forced to leave unless US officials extend sanctions waivers scheduled to expire on July 27. A Chevron exit would follow on the heels of other major American companies that have retreated from the chaos in Venezuela in recent years.
A loss of Chevron’s expertise and resources would only make matters worse for Venezuela’s oil industry, which is already on the brink of collapse under President Nicolas Maduro. And it could trigger losses for Chevron in a major market it’s spent decades sinking time, money and sweat into.