The U.S. Treasury Department on Monday renewed its 21-O permit, which allows Chevron to continue operating in Venezuela for another three months through January 22, 2020.
The Treasury said the license does not approve transactions related to shipment of thinners, which Venezuela uses to convert its heavy oil into one of greater commercial value.
The licenses, effective July 26, are for Chevron, Halliburton, Schlumberger, Baker Hughes and Weatherford International.
Chevron, Venezuela's last U.S. oil company, faces the expiration of a special exemption on October 25 that allows it to operate there.
"We have a positive presence in Venezuela and hope that the 8C general license will be renewed so that we can continue to operate in the country in the long term," Ray Fohr, a Chevron spokesman, said in a statement last Friday. “We have dedicated investments and a large workforce that depends on our presence,” he said.
The United States continues to tighten sanctions on Venezuela in an attempt to take President Nicolas Maduro away.