US issues license facilitating oil, gas exploration and production in Venezuela

U.S. issues license facilitating oil, gas exploration and production in Venezuela

Washington has relaxed sanctions on Venezuela's energy industry since U.S. forces captured President Nicolas Maduro in early January.

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 …

Treasury Allows U.S. Companies to Provide Supplies to Venezuela for Oil Production

Trump administration put out a new general license authorizing equipment and technology transactions.

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.

Trump administration moves closer to opening Venezuela to more US oil producers

The Treasury license allows companies to rehabilitate their existing oil equipment in Venezuela, much of which have fallen into disrepair.