Thu Feb 27 10:50:00 UTC 2025: ## Trump Revokes Chevron’s Venezuelan Oil Waiver
**Washington, D.C.** – Former President Donald Trump has canceled a sanction waiver that allowed Chevron to operate in Venezuela, effectively halting the oil company’s operations in the South American nation. The decision, announced on Truth Social, cites Venezuela’s lack of electoral reform, insufficient action on migration, and failure to return criminals deported to the U.S. at an agreed-upon pace.
Trump’s action reverses a waiver granted under the Biden administration, which allowed Chevron to export approximately 240,000 barrels of Venezuelan crude daily – a quarter of the country’s total oil production – generating roughly $6 billion in revenue for Venezuela. This move eliminates a significant source of income for the Venezuelan economy and jeopardizes Chevron’s planned expansion of its Venezuelan operations, which included a 50% increase in exports from the Petropiar facility.
Analysts have offered differing opinions on the impact of this decision. Some suggest the move reflects a return to the “maximum pressure” policy, which aimed to force political change through economic sanctions but ultimately led to increased migration. Others await further developments to assess the full consequences for both Venezuela and Chevron. The long-term effects of this decision on global oil prices remain uncertain.
First Piper 