Chevron Stayed in Venezuela Long After Rivals Quit. It’s Having Second Thoughts.

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CARACAS—For nearly a century, Chevron Corp. has weathered dictatorships, coups and nationalization drives to keep pumping oil in Venezuela.

But recently, executives at the last U.S. oil major in the country have debated whether it may be time to get out, according to people familiar with their deliberations.

For now, Chevron hopes to hang…

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