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LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

August 22, 2025

Why Did the U.S. Reinstate Chevron’s Venezuela License?

U.S. oil major Chevron resumed exports from Venezuela earlier this month after it received a new sanctions waiver license from the administration of U.S. President Donald Trump. // File Photo: JosIsaac via Adobe Stock.

Q

A

Luis A. Pacheco, nonresident fellow at the Baker Institute Center for Energy Studies: “The Maduro government hails the return of U.S. oil giant Chevron to Venezuela, a paradoxical embrace of ‘imperialist exploitation’ by a self-proclaimed revolutionary regime. Analysts view Chevron’s return to Venezuela—and potential entry of other oil firms—as an economic lifeline, recalling benefits from earlier U.S. general licenses. However, as far as one can ascertain (details are not public), the current license differs in transparency and foreign currency flows. The extent of Chevron’s impact hinges on…”

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ABOUT THE Energy ADVISOR

A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Gene Kuleta
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202.463.2920
gkuleta@thedialogue.org

Jack Quinn
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Lori Rampani
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board of advisors

Nigel Blackaby
Global Head, International Arbitration Group,
Freshfields Bruckhaus Deringer

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

María José Cortés
Head of ESG,
Atlas Renewable Energy

Jeffrey Davidow
Senior Counselor,
The Cohen Group

Analia Gonzalez
Leader, Arbitration & Litigation,
Laitn America, BakerHostetler

Jonathan C. Hamilton
Partner,
White & Case

Raul Herrera
Partner, Corporate &
Securities Practice,
Arnold & Porter

James R. Jones
Chairman,
Monarch Global Strategies

Jorge Kamine
Partner, Corporate &
Financial Services,
Willkie Farr & Gallagher

Craig A. Kelly
Senior Director,
Int’l Government Relations,
Exxon Mobil

Jeremy Martin
Director,
Energy Program,
Institute of the Americas

Larry Pascal
Chairman, Americas
Practice Group,
Haynes & Boone

R. Kirk Sherr
President,
Clearview Strategy Group

Daniela Stevens
Director,
Energy Transition and Climate Program,
Inter-American Dialogue

Doris Rodríguez
Partner,
Hunton Andrews Kurth

Alexandra Valderrama
Director,
International Government
Affairs, Chevron

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