(Reuters) -Chevron ( CVX ) has terminated the oil production, service and procurement contracts it had to operate in Venezuela, delegating its joint-venture governance to its partner, state company PDVSA, but it plans to retain its direct staff in the country, four sources close to the decisions said.

A key license for Chevron ( CVX ) to operate in Venezuela was revoked by U.S. President Donald Trump's administration in March and a two-month period granted to wind down transactions expired this week.