While Nigeria’s oil industry is facing plenty of challenges, most notably oil theft, there is plenty of optimism around the industry as it implements its latest five-year plan
WASHINGTON/HOUSTON (Reuters) -Chevron Corp on Saturday received a U.S. license allowing the second-largest U.S. oil company to expand its production in Venezuela and bring the South American country's crude oil to the United States. The decision grants broader rights for the last big U.S. oil company still operating in U.S.-sanctioned Venezuela.
The United States on Saturday issued an expanded license allowing Chevron Corp to import petroleum or petroleum products produced by its ventures in Venezuela, after the Venezuelan government and its opposition said they would resume political talks. "This action reflects longstanding U.S. policy to provide targeted sanctions relief based on concrete steps that alleviate the suffering of the Venezuelan people and support the restoration of democracy," the U.S. Treasury Department statement said in a statement. A Chevron spokesperson said the company was reviewing the license terms.