PDVSA Welcomes Renewed Oil and Gas Operations in Venezuela After OFAC Licenses
Petróleos de Venezuela S.A. (PDVSA) recently announced a significant development for the Venezuelan oil and gas sector following the issuance of new general licenses by the U.S. Treasury’s Office of Foreign Assets Control (OFAC). These licenses authorize leading international energy companies—Chevron, BP, Eni, Shell, and Repsol—to resume operations in Venezuela and enter into new investment negotiations with PDVSA and its partners.
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