01:46 PM EDT, 07/30/2025 (MT Newswires) -- Chevron ( CVX ) has received a restricted license from the US government to resume limited operations in Venezuela, Reuters said Wednesday, citing sources familiar with the matter.

The permit enables the US oil giant to reconnect with its joint ventures in the sanctioned OPEC country, making operational decisions and supporting procurement and contract work. However, the license forbids any payments or oil income from being transferred to the government of Venezuelan President Nicolas Maduro.

It remains unclear whether Venezuela's state-owned PDVSA will allocate crude shipments to Chevron ( CVX ) under the new restrictions, the report added.

Chevron ( CVX ) didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources, but may include rumor and speculation. Accuracy is not guaranteed.)

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