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BP Pauses Talks with Venezuela on Gas Project

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BP has paused discussions with Venezuela for the development of a gas project on its maritime border with Trinidad & Tobago, according to Reuters.

  • This follows the expiration of a US license in April which allowed international companies to work with Venezuela’s energy industry.
  • BP intends to resume talks with Venezuela when it can “legally do so”.
  • After the expiration of the general license 44 in April, it was replaced by GL44A which allows companies to apply for an individual licence exempting them from sanctions against Venezuela.
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BP has paused discussions with Venezuela for the development of a gas project on its maritime border with Trinidad & Tobago, according to Reuters.

  • This follows the expiration of a US license in April which allowed international companies to work with Venezuela’s energy industry.
  • BP intends to resume talks with Venezuela when it can “legally do so”.
  • After the expiration of the general license 44 in April, it was replaced by GL44A which allows companies to apply for an individual licence exempting them from sanctions against Venezuela.