Venezuela will reinvest the debt it owes to Chevron Corp. after US President Donald Trump gave the oil giant one month to stop producing oil in the South American nation.

Venezuela's exports of crude and fuel rose in February to their highest since November, vessel monitoring data showed, as the U.S. prepared to terminate a key license that allows oil major Chevron to operate and ship crude from the country.

Chevron will have through April 3 to wind down exports from Venezuela, according to an update of the license, published by the U.S. Treasury Department. The Venezuelan communications ministry did not immediately respond to a request for comment on the move. The Office of Foreign Assets Control (OFAC) Department did not provide further guidance.