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US Govt Reviewing up to 50 Licenses for Venezuela Operations

OIL
Energy BulletsHomepagemarkets-real-timeBulletCommodities

The US government has received up to 50 private license requests from companies looking to operate in Venezuela’s oil and gas sector, Francisco Palmieri, US chief of mission of the Venezuelan Affairs Unit said, cited by Bloomberg.

  • The US allowed license 44A to expire, which had offered a general temporary license for operations in Venezuela.
  • Companies now require individual licenses to operate in Venezuela after May 31.
  • Palmieri said that discussions with the government of Venezuela’s President Nicolas Maduro are ongoing and diplomatic channels remain open.
  • The Venezuelan opposition has recently rallied around an opposition candidate, but it remains to be seen how transparent the election will be, or whether the result will be accepted if Maduro were to lose.
  • Analysts told Platts last week that Washington is not expected to change course because the current policy focusing on company-specific licenses could work just as well as a general license.
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The US government has received up to 50 private license requests from companies looking to operate in Venezuela’s oil and gas sector, Francisco Palmieri, US chief of mission of the Venezuelan Affairs Unit said, cited by Bloomberg.

  • The US allowed license 44A to expire, which had offered a general temporary license for operations in Venezuela.
  • Companies now require individual licenses to operate in Venezuela after May 31.
  • Palmieri said that discussions with the government of Venezuela’s President Nicolas Maduro are ongoing and diplomatic channels remain open.
  • The Venezuelan opposition has recently rallied around an opposition candidate, but it remains to be seen how transparent the election will be, or whether the result will be accepted if Maduro were to lose.
  • Analysts told Platts last week that Washington is not expected to change course because the current policy focusing on company-specific licenses could work just as well as a general license.