Another slice of Venezuela’s oil production is at risk, and it is very much at the mercy of the U.S. government. When the Trump administration announced sanctions on Venezuelan oil earlier this year, it offered a waiver to Chevron, which plays a crucial role in multiple projects in the country. Chevron claims roughly 40,000 barrels per day (bpd) as part of its own production, according to its financials, but in reality its operations are integral to an overall 200,000 bpd of output. Chevron’s waiver is set to expire on July 27, and the White House faces a crucial decision. Earlier this year, the thinking was that Chevron would keep productive oil assets alive in Venezuela, which would provide the foundation for the new government of Juan Guaidó. But the American-led regime change campaign has run aground, and Guaidó’s efforts at toppling President Nicolas Maduro have at times appeared haphazard […]