A permit issued by the United States government allowing energy giant Chevron Corp. to pump and export Venezuelan oil will be terminated this week.

US President Donald Trump's threat to strip oil giant Chevron of a license to operate in Venezuela could plunge the troubled South American nation into deeper economic and social turmoil, experts say.

The move appears to end the U.S. company’s work in the oil-rich country and was prompted by what President Trump said was strongman Nicolás Maduro’s failure to accept deportees.