Chevron CEO: No discussions on Venezuela with President-elect Trump

Michael Wirth, CEO of Chevron, said that the company hasn't had any talks with Donald Trump or his team about its operations in Venezuela.

The first Trump administration will end in 2019.

Sanctions have been imposed that are sweeping

Petroleos de Venezuela, the state-owned oil firm in Venezuela, was targeted to reduce its oil exports. It also hoped to force a change of government. Chevron, however, has been permitted to export oil since 2022 in order to recover unpaid dividends by joint venture partners.

Wirth, in remarks made to the think tank Atlantic Council, said that Chevron wants to support U.S. policies on Venezuela and provide a better future for Venezuelans.

Wirth stated, "We are trying our best to work with the government and stay in this situation."

He added, "If we left, we would probably end up in Russia or China, as other companies have already left Venezuela.

It is not clear what policy the Trump administration will adopt.

Chevron shipped oil from Venezuela to the U.S. last month under an authorization for 2022 from the Biden Administration.

238,000 barrels per day

(source: Reuters)