Chevron competes with rivals for Venezuelan oil sales, sources say
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Chevron is competing with Vitol and other traders for Venezuelan oil exports, seeking U.S. licenses to expand operations in Venezuela. Following the U.S. capture of Nicolas Maduro, Chevron aims to increase crude exports from joint ventures and trade PDVSA's output. Currently, Chevron's exports are limited to about 100,000 bpd due to restrictions. Vitol has received a preliminary license to negotiate oil imports and exports from Venezuela for 18 months. Negotiations for a $2 billion oil supply deal with the U.S. are ongoing, with talks expected at the White House.
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