US issues license facilitating oil, gas exploration and production in Venezuela
11 Articles
11 Articles
Trump Allows U.S. Firms to Provide Services for Venezuela’s Oil
The Trump Administration has further eased the sanctions on Venezuela’s oil industry by allowing U.S. firms to provide services and technology for hydrocarbon exploration and production in the South American country. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) noted in a new general license that U.S. entities or persons are now authorized to provide “goods, technology, software, or services for the exploration, development, or …
U.S. Eases Sanctions to Boost Venezuelan Oil Production
The U.S. Treasury Department has issued a general license allowing U.S. goods and services for oil and gas exploration in Venezuela. This move, part of a relaxation of sanctions, is anticipated to boost Venezuela's oil output. Contracts must comply with U.S. laws, and payments are overseen by the U.S.
US issues license facilitating oil, gas exploration and production in Venezuela
The U.S. Treasury Department on Tuesday issued a general license to facilitate the exploration and production of oil and gas in Venezuela, a long-awaited step that could help increase output in the country.
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