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President Trump appears to be revoking a license that the Biden administration gave Chevron in 2022, potentially hurting the company and Venezuela.

President Trump said on Wednesday that he would revoke a Biden-era policy that allowed more oil to be produced in Venezuela and exported, dealing a blow to the country’s government and Chevron, which produces oil there.

Mr. Trump did not mention Chevron in his post on Truth Social, saying only that he would reverse concessions granted on Nov. 26, 2022. That’s when the Treasury Department gave Chevron permission to expand operations in Venezuela. The license is up for renewal on March 1.

“The regime has not been transporting the violent criminals that they sent into our Country (the Good Ole’ U.S.A.) back to Venezuela at the rapid pace that they had agreed to,” Mr. Trump said.

A spokesman for Chevron said the company was reviewing the implications of Mr. Trump’s statement. Chevron,

Keep reading this article on The New York Times Energy & Environment.

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