10:38 AM EST, 02/05/2025 (MT Newswires) -- Chevron ( CVX ) is in talks with the Trump administration amid calls from some Republicans to revoke the company's license to operate in Venezuela, Bloomberg reported Wednesday.

The company is working closely with the government to understand its goals and limitations, Chief Executive Mike Wirth said in a Bloomberg Television interview.

Despite US sanctions on President Nicolas Maduro's regime, Chevron ( CVX ) remains the only major oil producer with a US government waiver to operate in Venezuela, accounting for 20% of the country's oil production and helping exports reach a five-year high in 2024, nearing Maduro's goal of 1 million barrels per day, Bloomberg said.

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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