Industry upheaval: Drilling rigs in the oil-rich Orinoco region. The end of Chevron’s production in Venezuela would remove 200,000 barrels a day from global markets. — Reuters
Washington: The US administration of Donald Trump is giving Chevron Corp one month to stop producing oil in Venezuela, delivering a heavy blow to president Nicolas Maduro’s autocratic regime.
The US Treasury set an April 3 deadline for the oil major to wrap up operations in the country, much less than the normal six-month wind-down period.
