Facing the imminent withdrawal from Venezuela of U.S. oil giant Chevron Corp. , strongman Nicolás Maduro is rolling out the red carpet to other foreign oil companies, saying that all of them would be welcome to set up shop in the South American country.

President Donald Trump said he plans to revoke Chevron Corp.’s oil license to operate in Venezuela, threatening to torpedo the nation’s slow economic recovery.

Venezuela business guild Fedecamaras said the United States and Venezuela should resume negotiations amid the possible negative impact of President Donald Trump's cancellation of a license allowing oil major Chevron to operate in the country.

By Elias Ferrer in Caracas On 26 February, US President Donald Trump announced that he would be terminating the “Chevron Licence,” which authorised the oil giant to continue operating in Venezuela despite sanctions.