Venezuela revokes transnational oil, American gas licenses – News – The Guardian Nigeria News – Nigeria and World News

The United States has revoked several transnational licenses of oil and gas companies to operate in Venezuela, Caracas said on Sunday, which was granted despite Washington sanctions against the South -American country.

US President Donald Trump is trying to suffocate Venezuela Economic to arouse his leader Nicolas Maduro and announced a week ago 25 % rates for imports from countries and Venezuelan gases.

Venezuela did not specify which companies were affected, but the French oil company Maurel & Prom (M&P) said on Monday that the special license that was granted last year was revoked.

M&P said the US Treasury Office for Foreign Assets Control (OFAC) has given it until May 27 to end its activities in Venezuela.

“The understanding of the M&P is that this action is part of the wider initiative of OFAC that affects both American and international oil companies operating in Venezuela under similar authorizations, waiting for a possible agreement between the US and Venezuela, because the situation continues to evolve,” a statement said.

The American energy giant Chevron revoked the license in February.

Wall Street Journal reported on Saturday that Washington has ordered global oil terminals, owned by tycoon Harry Sargeant III, to cease to operate in Venezuela.

The Spanish oil giant Repsol, the Italian gas producer and the Reliance industry in India are also expected to be hit by US license revocation.

Chevron produces about 220,000 barrels per day (BPD), repsol around 65,000 and M&P around 20,000, according to experts.

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“I want to inform you that I have maintained a fluid communication with the transnational oil and gas companies operating in the country and that they have been notified in the last hours by the US government of the revocation of their licenses,” said Venezuelan Vice -President Delcy Rodriguez in a statement on Telegram on Sunday.

“We were prepared for this situation and we are ready to continue to honor the contracts with these companies,” she said.

Companies that violate the US oil embargo and other directives could be sanctioned by the United States.

Chevron’s revoked license was granted by former US president Joe Biden and allowed the company to work despite sanctions. Other companies have received similar licenses.

Trump, who initially gave Chevron until April 3 to close his operations, extended it until May 27.

The United States and many other countries do not recognize the request for victory last year by Maduro at elections, he is accused of stolen.

The oil production in Venezuela, which exceeded three million BPD 25 years ago, is about one million BPD today, falling to less than 300,000 in the worst case.