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US Allows Oil Service Firms to Maintain Assets in Venezuela Through Mid-Nov

OIL

The US has extended a license allowing certain transitions with Venezuela’s PDVSA so that US energy service companies can maintain assets after sanctions were reimposed in April, Reuters said.

  • The companies remain prohibited from drilling, lifting, processing, purchasing, transporting, or shipping any Venezuelan oil.
  • The license is extended through Nov. 15 covering Haliburton, Schlumberger, Baker Hughes, and Weatherford International.
  • The US reimposed sanctions on Venezuela’s oil sector due to Maduro’s failure to meet election commitments, having banned opposition candidate Maria Corina Machado.

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