Venezuela adjusts as sanctions spur Western oil partners to retreat

Venezuelan state oil company PDVSA is turning to local partners as it seeks to plug the gap left by Western companies in the OPEC nation’s oil sector, according to interviews with a half dozen industry sources, as a key U.S. sanctions deadline looms. U.S. President Joe Biden must decide by June 3 whether to extend a measure allowing Chevron Corp, Halliburton Co and others to remain in the South American country, despite sanctions on PDVSA implemented by the Trump administration in 2019 to try to oust President Nicolas Maduro. By Luc Cohen. Full Text -> ReginaLider-Post

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