About 50 Companies Request U.S. License for Oil Operations in Venezuela
May 26, 2024
The U.S. administration has received up to 50 requests for individual licenses from companies wishing to conduct business in Venezuela’s oil sector following the expiration of the general license.
To recap, in October 2023, the U.S. Treasury issued a license permitting operations related to the extraction and export of Venezuelan oil until mid-April 2024. This move encouraged traders to purchase cargoes from lesser-known intermediaries registered as clients of the state-owned company PDVSA. Advance payments for the deal began in December, with the loading of six tankers scheduled for December and January.
Source: MultipolarMarket
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