Trump Team Withholds Venezuelan Oil Approval for Non-US Majors

(Bloomberg) — The Trump administration is withholding approval for several Western oil majors seeking to operate in Venezuela, ramping up pressure on Nicolás Maduro’s government even as Chevron Corp. is allowed to work there, according to people familiar with the matter.

The pause is focused on non-US firms, leaving companies including Spain’s Repsol SA, Italy’s Eni SpA and France’s Maurel & Prom in limbo, said the people, who requested anonymity as the matter is private. It underscores a delicate balancing act in Washington as officials weigh competing geopolitical, financial and energy considerations. Last month, the Treasury Department granted approval for Chevron to resume producing and exporting Venezuelan oil.