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

Summary by intellinews.com
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.

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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…

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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.

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This is because Washington imposed an oil embargo in 2019.

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  • 67% of the sources lean Left
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Trinidad Express Newspapers broke the news in on Tuesday, April 8, 2025.
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