Hope for crisis-stricken Venezuela may be dwindling, but Chevron—who has been steadfastly operating in the country for almost 100 years despite the unattractive business environment—can rest a bit easier today as Western-recognized Venezuelan President Juan Guaido has vowed to protect Chevron’s Venezuela assets in the event that the United States declines to extend Chevron’s license that allows it to operate in a sanctioned country, according to Reuters . Chevron’s license to work in Venezuela expires on July 27, and if not renewed, Chevron would no longer be able to lawfully operate in the Latin American country. Most other foreign oil companies have already been pushed out of Venezuela by Maduro’s predecessor, former President Hugo Chavez. Chevron decided to stick it out, tempted by the vast oil riches of the Orinoco Belt . For this privilege, Chevron had to suck up some rather unfavorable terms which Chavez demanded, not to […]