The Trump Administration is ordering Chevron Corp. to “wind down” operations in Venezuela by Dec. 1.
Until then, the California-based oil giant is barred from pumping or exporting from Venezuela.
It’s the latest step by the White House to pressure President Nicolás Maduro from power as Venezuela’s crisis deepens.
Chevron is the last major U.S. oil company to do business in Venezuela. Chevron has invested in Venezuelan oil fields valued at more than $2 billion.
The Trump Administration has quickened the pace of its campaign to end Maduro’s socialist rule, blamed for the economic ruin of a nation that has the world’s largest proven oil reserves.
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