SLB - Chevron gets six-month extension to wind down Venezuela operations

The U.S. Treasury Department issues a new license to Chevron ([[CVX]] -1.2%), the last major U.S. oil company still operating in Venezuela, extending a deadline until June 3 to wind down its joint ventures in the country amid U.S. sanctions.Chevron has operated since January with a special U.S. operating license exempting it from sanctions on Venezuela's oil sector, but the latest waiver was due to expire on Dec. 1.The new license, which also applies to Halliburton ([[HAL]] -0.5%), Schlumberger ([[SLB]] -1.4%), Baker Hughes ([[BKR]] +1.0%) and Weatherford International (WFTLF), continues the restrictions imposed in the last waiver and does not authorize the companies to drill, sell, ship or trade Venezuelan crude or petroleum products.The license allows the companies only to conduct transactions with PDVSA "necessary for the limited maintenance of essential operations in Venezuela or the wind down of operations" by June 3.In a bullish analysis published recently on Seeking

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Chevron gets six-month extension to wind down Venezuela operations