President Donald Trump announced he is revoking a U.S. license allowing Chevron to operate in Venezuela, reversing a concession granted by President Joe Biden in 2022. Trump accused Venezuelan President Nicolás Maduro of failing to meet electoral and migrant return conditions. Chevron exports over 200,000 barrels daily from Venezuela and is assessing the impact. Secretary of State Marco Rubio pledged to revoke other Biden-era oil and gas licenses tied to Maduro. The decision could disrupt Venezuelan oil shipments and U.S. refinery imports.
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