Chevron Faces Venezuela Setback - Is the Stock Still a Hold?

Chevron Corporation (CVX) is facing a significant setback with the U.S. government revoking its conditional license to operate in Venezuela. The company has been given just 30 days to wind down operations, cutting off a key source of heavy crude supply to U.S. refiners. This abrupt exit eliminates a revenue stream that had allowed Chevron to recover billions in outstanding debts from the region. While the company maximized its gains before the policy reversal, the loss of Venezuelan assets could weigh on lo ...