U.S. President Donald Trump's administration is considering a plan to extend Chevron's license to pump oil in Venezuela by at least 60 days, according to two people familiar with the matter.

The Trump administration is reportedly considering extending Chevron's license to operate in Venezuela beyond April 3.

(Reuters) - The Trump administration is considering a plan to extend Chevron's license to pump oil in Venezuela and impose financial penalties on other countries that do business with the South American nation, the Wall Street Journal reported on Thursday, citing people familiar with the discussions.

The Biden administration secretly permitted Chevron Corp. to pay hundreds of millions of dollars to the Venezuelan government despite a license that explicitly prohibited such disbursements, according to people familiar with the matter.