President Donald Trump has announced all countries that purchase oil or gas from Venezuela will be subject to a 25% tariff on all trade with the United States.
The Trump administration announced on Tuesday that Chevron has been given 30 days to stop oil production in Venezuela, since Socialist President Nicolas Maduro has not made anymore progress on electoral reforms and migrant returns.
Donald Trump’s election victory was welcomed happily by Wall Street, with all three major benchmarks hitting record highs on Wednesday.
Oil titan Chevron announced on Friday that they are moving its headquarters from San Ramon, California to Houston, Texas.
Shell will cut at least 15% of the workforce at its low-carbon solutions division and scale back its hydrogen business as part of CEO’s drive to boost profits.
Chevron announced that they are buying rival company Hess amid uncertainty in the oil markets.