US Fast-Tracks Expanded Chevron Venezuela License

The United States says it is moving quickly to grant Chevron an expanded license to produce and export oil in Venezuela, allowing cash payments to the Venezuelan government instead of oil-in-kind and enabling Chevron to sell all oil it produces. The move could expand export capacity and improve pricing, with proceeds held in Qatar in accounts controlled by the U.S. government and a goal to eventually move funds into U.S. banks.