Chevron’s future in Venezuela is uncertain as U.S. policy shifts

As the U.S. reconsiders its approach to energy dealings with Venezuela, Chevron’s operations in the country hang in the balance. With a Biden-era license set to expire on May 27, and shifting signals from the Trump administration, the fate of the last American energy company on the ground in Venezuela could have broad implications for U.S. energy security and geopolitical strategy.

Chevron CEO Mike Wirth issued a strong public warning this week: halting U.S. energy operations in Venezuela may strengthen the influence of foreign powers like China and Russia in a region that’s strategically vital to the Western Hemisphere.

A Vital Link in the Global Energy Chain

Chevron currently exports around 240,000 barrels per day of crude from Venezuela—over a quarter of the country’s total output—and much of that oil flows to Gulf Coast refineries designed specifically to process Venezuela’s heavier-grade crude.

“If we leave, the oil doesn’t stop flowing—it just goes elsewhere,” Wirth said. “That ‘elsewhere’ could be China or Russia.” He cautioned that ceding energy partnerships in the region to geopolitical rivals would be a short-sighted move that weakens long-term U.S. influence and infrastructure resilience.

As talks continue between Chevron and the Trump administration, the company argues that staying in Venezuela provides more than just oil—it ensures stability in refinery operations, protects American strategic interests, and prevents a vacuum that others may quickly fill.

A License in Limbo, and Rising Global Stakes

The Trump administration had originally announced plans to end the license in March, citing unfulfilled deportation agreements and dissatisfaction with the Maduro regime. However, reports suggest the license was quietly extended to late May, giving negotiators time to explore next steps.

Additionally, a 25% tariff has been mandated for any country that trades with the U.S. while buying Venezuelan oil—a move likely intended to deter global buyers and pressure the Maduro government.

Still, with China already the largest buyer of Venezuelan oil and recent efforts by Venezuelan officials to deepen trade ties with Beijing, the outcome of these negotiations could impact not just Chevron, but global energy dynamics for years to come.

STW Enviro Perspective: The Case for Resilient, Responsible Infrastructure

At STW Enviro, we’re not in the business of making foreign policy—but we do work closely with industries navigating the real-world consequences of those policies.

This moment serves as a reminder that energy resilience isn’t just about production—it’s about preparedness.

• If U.S. companies exit high-output regions like Venezuela, the infrastructure that replaces them must be capable of operating safely, cleanly, and responsibly.

• If the U.S. remains engaged, tools like TransSeal help stabilize unpaved roads, well sites, and logistics corridors in challenging terrain, reducing erosion, dust, and runoff.

• And whether energy is domestic or foreign, pipelines and marine exports require rapid spill response solutions like Pristine Sea—to safeguard water, soil, and nearby communities.

In volatile times, the best protection for our energy sector isn’t retreat—it’s investment in reliable systems, modern technologies, and a commitment to environmental integrity.

A Region Full of Risk—And Potential

While Chevron warns of growing Chinese and Russian influence, others—including Venezuelan opposition leader María Corina Machado—argue that the only path to meaningful change in Venezuela is through democratic reform, not continued partnerships with the Maduro regime.

Still, both sides acknowledge a central truth: Venezuela holds the world’s largest proven oil reserves, and how that resource is managed will play a crucial role in shaping the future energy map of the Americas.

As Venezuela’s future remains uncertain, energy operators, policymakers, and environmental stakeholders alike should remain focused on a shared priority—balancing access to strategic resources with the responsibility to develop them cleanly, safely, and transparently.