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.

Investing.com -- The Biden administration reportedly allowed Chevron Corp. (NYSE: CVX) to disburse hundreds of millions of dollars to the Venezuelan government. This occurred despite a license explicitly prohibiting such payments, according to Bloomberg, citing sources familiar with the situation.

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 poised to extend Chevron Corp.’s deadline to halt its Venezuela operations for at least another 30 days, following lobbying efforts by the Texas-based oil giant, people familiar with the matter said.

President Donald Trump indicated he is open to extending Chevron's license to produce oil in Venezuela during a meeting with oil executives Wednesday, according to The Wall Street Journal. The Trump administration had given Chevron until April 3 to wind down its operations.