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.

US President Donald Trump’s plan to revoke Chevron Corp.’s operating license in Venezuela threatens to force the nation’s oil sector back into the shadows, paving the way for corruption and huge discounts in the Asian market.

U.S. President Donald Trump's cancellation of licenses for foreign oil companies to operate in sanctioned Venezuela will reduce the dollars on offer in the country's exchange market, stoking depreciation of the local bolivar currency and prices,

The Trump administration formally revoked on Tuesday the license that allows oil giant Chevron Corp. to sell Venezuelan oil in the United States, giving the U.S. company only 30 days to wind down its operations in the South American country.

Trump’s slashed Chevron’s license to drill and export oil in Venezuela. Now, Chevron is calling for long-lasting legislation.