The US Treasury Department’s Office of Foreign Assets Control has extended a license that allows some oil companies to carry out basic operations in Venezuela until May 16 next year.
Media reported that the license for Halliburton, Schlumberger Limited, Baker Hughes holdings and Weatherford International, to carry out limited maintenance of the necessary operations, which includes the Venezuelan state-owned company “PDVSA”.
According to the statement, the license does not allow exploration, processing, purchase, sale, transportation or shipment of Venezuelan oil.
The administration of US President Joe Biden had previously significantly eased sanctions on the oil, gas and gold sectors in Venezuela, after an agreement reached by the Venezuelan government and the opposition regarding the 2024 elections.
“Following these democratic developments, the US Treasury issued general licenses allowing transactions related to the oil and gas sector and the gold sector in Venezuela, as well as the lifting of the ban on the secondary market,”the US Treasury Department said in a statement.
The ministry warned that it is ready to amend or cancel licenses at any time, if representatives of President Nicolas Maduro do not adhere to what they agreed with the opposition.
