Trump Team Split on Venezuela Policy Puts Chevron in Limbo (1)

It took barely 24 hours this week for the Trump administration to execute its latest reversal on Venezuela, with the fate of a huge Chevron Corp. venture hanging in the balance as closed-door White House differences broke into the open.

Prices of the country’s bonds gyrated as one US official announced on Tuesday the company’s oil project in the country would get a waiver from sanctions when the current one expires next week — only to be contradicted Wednesday by a late-night tweet from the secretary of state.

Jorge Rodriguez

Photographer: Gaby Oraa/Bloomberg

“There’s a Game of Thrones going on there,” Jorge Rodríguez, Venezuela’s ...