Chevron is driving Venezuela's oil rebound while China is pulling back. As President Nicolas Maduro's fate grows uncertain, Washington's renewed leverage is reshaping the country's economic and geopolitical future.

The Trump administration on Thursday reportedly renewed a license for oil major Chevron (CVX) to continue pumping oil in Venezuela. According to a Bloomberg report, citing sources familiar with the matter,

Chevron Corp. is currently engaged in talks with the Trump administration over its Venezuelan operations, with Chief Executive Officer Mike Wirth emphasizing that its continued presence there is beneficial to U.

The South American nation's output has plummeted and restoring its former glory would be a heavy lift.

Chevron is flying employees from Caracas to its oil production sites in Venezuela despite a US warning that air travel in the region may be unsafe due to military satellite interference.

Chevron Corp. is flying employees from Caracas to its oil production sites in Venezuela despite a US warning to operators that air travel in the region may be unsafe due to military satellite interference.

The extraordinary seizure appeared to mark the start of the next phase of Mr Trump’s campaign against Nicolás Maduro, the Venezuelan dictator. The White House has indicated that it was not a one-off.

The U.S. ‌government ​carried out its seizure ‌of the M/T Skipper off the coast of Venezuela ​on Wednesday just as a judge-signed warrant was set to expire, according to ‍the document which was ​unsealed on Friday.