US cancels Shell, BP licences for Venezuela and Trinidad offshore projects

US cancels Shell, BP licences for Venezuela and Trinidad offshore projects

In a significant setback for Trinidad and Tobago's energy ambitions, Prime Minister Stuart Young announced that the United States had revoked crucial OFAC licenses that enabled major cross-border natural gas developments with Venezuela.

US Revokes Trinidad's Gas Production License With Venezuela

The United States has revoked authorizations for Trinidad and Tobago to produce gas fields jointly owned and operated with Venezuela. The prime minister of Trinidad and Tobago, Stuary Young, made the announcement on Tuesday, April 8, at a press conference. “What I can tell Trinidad and Tobago is that we have been informed that our OFAC license, dated December 18, 2023, has been revoked … as has our license for Manakin-Cocuina [gas field].” The g…

US Nixes Venezuela-Trinidad Natural Gas Licenses as Maduro Declares Economic Emergency - Venezuelanalysis

Caracas, April 9, 2025 (venezuelanalysis.com) – The Trump administration has withdrawn licenses allowing Venezuela, Trinidad and Tobago and multinational corporations to develop two offshore natural gas projects. Trinidadian Prime Minister Stuart Young broke the news in a press conference on Tuesday. He called Washington’s decision “disappointing but not unexpected.” The Caribbean country’s National Gas Company (NGC), as well as foreign partners…

The Venezuelan state oil company, PDVSA, cancelled several authorizations it had granted to the US producer Chevron (CVX.N), to load and export Venezuelan crude in April, according to three sources informed Thursday with knowledge of the decision. Reuters The cancellations occur after the imposition of tariffs by the US president, Donald Trump, to Venezuelan oil buyers. The suspensions also occur after Washington cancelled key licenses last mont…

Trinidadian Prime Minister confirmed that the license to operate in the Dragon field was cancelled. The bill affects Shell, NGC and other contractors. U.S. entry revokes licenses to Trinidad and Tobago to produce gas in Venezuela #10Apr was first published in El Impulso.

This is because Washington imposed an oil embargo in 2019.