New US license gives Chevron until June 3

WASHINGTON, Nov 18 (Reuters): The US Treasury Department on Tuesday issued a new license to Chevron Corp, the last major US oil company still operating in Venezuela, giving it until June 3 to wind down its joint ventures in the OPEC member nation.

The United States last year imposed sanctions barring imports of Venezuelan oil and transactions made in US dollars with Venezuela's state-run oil company PDVSA, a move designed to starve the country of oil dollars and oust socialist President Nicolas Maduro.

Chevron has had a special US operating license exempting it from sanctions on Venezuela's vital oil sector since January, but the latest waiver was due to expire on Dec. 1.

Chevron will comply with all applicable laws and regulations in relation to its activities in Venezuela, said spokesman Ray Fohr.