Chevron seeks to protect Venezuelan business scrutinised by White House

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Financial Times 2d ago

Chevron seeks to protect Venezuelan business scrutinised by White House - Financial Times

Quick Summary:

Wirth said Chevron was owed a significant amount of money in Venezuela.“Look, we’re running a business.

Chevron, the second-biggest western oil company, had net income of $3.2bn in the fourth quarter compared with $2.2bn a year earlier, but adjusted earnings of $2.06 a share were below Wall Street estimates of $2.11.Its shares fell 4.6 per cent on Friday in New York.

When Maduro was sworn in for a third six-year term this month, the outgoing Biden administration, alongside the EU and the UK, announced co-ordinated sanctions on Venezuelan officials, though it stopped short of cancelling the exemption licences.