Chevron's Venezuela oil contractors continue work despite impending Trump deadline

Bloomberg News March 13, 2025

(Bloomberg) – Venezuelan oil contractors are continuing their work with Chevron Corp. and have not been warned of an impending shutdown despite a U.S. government deadline to stop producing oil there by early April.

Local service companies working for three of Chevron’s joint ventures with state-owned Petroleos de Venezuela SA have not slowed down work, according to five people with knowledge of the matter. Chevron hires local companies to maintain oil wells, supply power generators, operate small drills and specialized equipment as well as manage housing contracts for employees.

U.S. President Donald Trump’s administration set an April 3 deadline for the oil major to wrap up operations in Venezuela, cutting short the six-month wind-down period. The fact that Chevron’s work continues apace more than a week after Washington issued its order underscores how challenging it will be for the company to comply with the accelerated timeline, designed to pressure Nicolás Maduro to make a deal over democratic reforms and accept more migrants from the U.S.

Chevron is “aware of the President’s directive and will abide by any direction given by the U.S. Treasury Department to implement that directive,” spokesperson Bill Turenne said by email. The company “conducts its business in Venezuela in compliance with all laws and regulations, including the sanctions framework provided by U.S. government.”