(Reuters) -Chevron has terminated the oil production, service and procurement contracts it had to operate in Venezuela, delegating its joint-venture governance to its partner, state company PDVSA, but it plans to retain its direct staff in the country, four sources close to the decisions said.
A key license for Chevron to operate in Venezuela was revoked by U.S. President Donald Trump’s administration in March and a two-month period granted to wind down transactions expired this week.
(Reporting by Reuters staff; Editing by Chris Reese)
