• Chevron's ventures paying royalties, taxes with oil in kind in recent months
• PDVSA using its portion of barrels for refining and to ship to other destinations
• Pace of debt repayment to Chevron has slowed

HOUSTON, Sept 23 (Reuters) - U.S. oil major Chevron CVX.N is only able to export about half the crude its joint ventures produce in Venezuela with the latest rules laid out by Washington, three sources close to the matter said.

The Treasury Department in late July issued a restricted authorization allowing Chevron to operate in the sanctioned country and export oil to the U.S., but it banned payments in any currency to the government of President Nicolas Maduro.

To comply with the permit, the joint ventures where the Houston-based company participates have been paying royalties and taxes with oil in kind, effectively reducing what Chevron can export to about 50% of the 240,000 barrels per day of crude the projects produce, the sources said.

Chevron's partner, state oil company PDVSA, is in control of the barrels delivered to comply with the in-kind payments, using them either for domestic refining or export, they added.