Chevron (CVX) in Talks to Expand Oil License in Venezuela

Chevron Corporation (NYSE:CVX) is included among the 10 High Yield Crude Oil Stocks to Buy After Trump's Blitz in Venezuela.

Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives.

Chevron Corporation (NYSE:CVX) is the only American oil company still working in Venezuela, operating under a US license allowing it to produce and export oil despite sanctions from the US. The oil and gas giant already holds about 25% of operations in Venezuela, boasting an output of around 250,000 barrels per day.

While Chevron Corporation (NYSE:CVX) was allowed to export this 250,000 bpd of output to the United States before, the Trump administration, as part of its campaign to put pressure on the Maduro regime, put additional restrictions on the company’s special license last summer and lowered the volume it could export to some 100,000 bpd.

With the Maduro regime ousted and the US taking full control of Venezuela’s oil assets, it was reported on January 9 that Chevron Corporation (NYSE:CVX) is now in talks with the US government to expand its key license and allow it to go back to previous export levels. Moreover, the company is looking for permission to provide Venezuelan crude to its business partners that could then allocate the cargoes in markets other than the United States, as it used to happen in the past.

Chevron Corporation (NYSE:CVX)’s long-established presence in Venezuela gives it a significant head start in the race for the biggest oil reserves in the world. The company remains committed to its joint ventures with the country’s state oil company, PDVSA, and is even ready to boost output by ‘100% essentially effective immediately’.

While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best Natural Gas Stocks to Buy Right Now and 11 Best Performing Energy Stocks in 2025.

Disclosure: None.