Chevron ends Venezuela contracts, but will keep staff in country: report

1. Chevron terminated contracts to operate in Venezuela, transitioning governance to PDVSA. 2. Chevron's license to operate ended, but retains staff and assets in Venezuela. 3. Analysts predict Venezuela's oil output may decrease by 15-30% by 2026. 4. New sanctions complicate Chevron's operations, limiting oilfield activities and exports. 5. Chevron aims to comply with U.S. laws while avoiding payments to Maduro's government.