Rubio Says Venezuela Oil License to End, in Setback for Chevron

US Secretary of State Marco Rubio said in a post on X that a Venezuela oil-export license will expire next Tuesday, defying earlier expectations that it would be extended.

The tighter time frame would put pressure on Chevron Corp.’s operations in the sanctioned nation. The US oil giant has been a major contributor to Venezuela’s economy in recent years, supplying about 20% of its output and contributing to the flow of dollars into the South American country.

That has made Chevron’s license to operate in Venezuela a big chip in negotiations between the US and the regime of President ...