Overview
- Chevron resumed Venezuelan oil shipments on Jan. 5 and chartered the only vessels loading crude at the Jose and Bajo Grande ports, according to ship‑tracking data.
- Reuters reported an agreement that could allow up to $2 billion of Venezuelan crude exports to the U.S., positioning Chevron to benefit given its sanction‑exempt license.
- Treasury Secretary Scott Bessent said major oil companies are not interested in investing in Venezuela, underscoring industry caution despite White House outreach.
- U.S. officials have called energy executives to outline the legal and financial safeguards companies require before committing capital to Venezuela.
- Chevron shares rose 2.3% Thursday and were up 0.8% Friday near $160, as analysts tweaked targets recently, including Citi trimming to $179 and Bernstein lifting to $172 ahead of Jan. 30 earnings.