Trump is thinking of extending Chevron’s license for pumping oil in Venezuela

Donald Trump’s government is considering a plan to extend its license Chevron to draw slow oil from deposits in Venezuela and the imposition of economic sanctions on other countries working with the South American Caracas state, the Wall Street Journal reports.

President Trump, during a meeting on Wednesday (19.3.2025) at the White House with Chevron Managing Director Mike Wirert and other oil industry executives, expressed his willingness to overturn the recent US government’s decision to order the company to order the company.

Chevron has long warned that China could take advantage of Venezuelan oil resources if the company’s permission is revoked – addressing the US competition with Beijing. Possible duties are intended to make it more difficult for China or other countries to gain foundations in Venezuela, while fortifying an American energy company and maintain oil flow to the US, sources say.

The idea was discussed between Trump, Wirert, Commerce Minister Howard Lutnik, Energy Minister Chris Wright and Interior Minister Doug Bergam, according to the WSJ. Lutnik told Chevron’s chief executive that financial sanctions could force Venezuelan President Nicolas Maduro to sit on the table of negotiations.

The Trump government is eager to reach an agreement with Maduro to accept the return of immigrants residing in the US as part of an deportation effort that is a priority for the president. But any negotiation with Venezuela could re -open a political debate, especially among the Florida Republicans who support the maximum possible pressure on Maduro.