U.S. Treasury to renew Chevron's Venezuela license as soon as Friday - source

May 26 (Reuters) - The U.S. Treasury Department is expected to renew as soon as Friday Chevron Corp's license to operate in Venezuela under similarly, restricted terms of its existing authorization, according to two people familiar with the matter.

Chevron existing license will expire on June 1 if not renewed earlier. The document allows it to preserve its oil and gas assets in the U.S.-sanctioned country. (Reporting by Matt Spetalnick in Washington and Marianna Parraga in Houston;)