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Foreign oil companies in Venezuela await US authorizations, sources say
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Foreign oil companies in Venezuela await US authorizations, sources say
Jul 29, 2025 12:17 PM

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Maduro said a new permit for Chevron ( CVX ) would come

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PDVSA readies future cargo deliveries, but tankers have

not

returned

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US supports Venezuela's 'restoration of democratic order,'

Secretary Rubio said

By Marianna Parraga and Sheila Dang

HOUSTON, July 29 (Reuters) - About a half dozen foreign

partners of Venezuela's state-owned oil company PDVSA are

awaiting authorizations from the U.S. Treasury and State

departments, following talks last week about fresh licenses to

allow them to operate in the sanctioned South American country,

according to six company sources.

The companies' licenses, including a key one for U.S. oil major

Chevron ( CVX ), were revoked by President Donald Trump's

administration in March over the Venezuelan government's

response to migration issues and what Trump said was its lack of

progress toward restoring democracy.

Venezuelan President Nicolas Maduro said last week that Chevron ( CVX )

had informed his government about a fresh authorization to come,

and PDVSA began preparations to allocate oil cargoes to its

joint-venture partners in coming months, once authorized.

But companies including Chevron ( CVX ), Italy's Eni,

Spain's Repsol, France's Maurel & Prom and

India's Reliance Industries are still waiting for the

licenses, the sources said.

Most of the companies are minority stakeholders in key oil and

gas projects with PDVSA, while others including Reliance are

among Venezuela's largest buyers of oil. In the first quarter

this year, before their licenses were canceled, they were

responsible for about 40% of the country's total 881,000 barrels

per day of exports.

Some firms have informed staff and contractors in Venezuela

about permits to come, without elaborating on dates or terms,

according to two of the sources.

Chevron ( CVX ) declined to comment specifically on the licenses.

The company said it conducts its business globally in compliance

with laws and regulations, as well as the U.S. sanctions

framework.

A spokesperson for Maurel & Prom told Reuters in an email on

Tuesday that the firm has not received any license yet. Eni,

Repsol, Reliance and PDVSA did not immediately reply to requests

for comment.

Secretary of State Marco Rubio said on Sunday the U.S.

remained firm in its "unwavering support to Venezuela's

restoration of democratic order and justice."

Rubio had in May blocked a move by U.S. special envoy Richard

Grenell to extend the period in which the previous

authorizations for oil operations were allowed to wind down. He

did not refer to the oil authorizations in Sunday's release.

The Treasury Department did not immediately reply to a

request for comment on the licenses. A State Department

spokesperson said they would not comment about any specific

licenses, but the U.S. government would not allow Maduro's

administration to profit from the sale of oil.

Chevron ( CVX ) has not yet instructed tankers' owners or captains

to go to Venezuelan waters for an eventual resumption of oil

cargoes, while PDVSA's loading schedules do not show any

supplies to its joint-venture partners for July, according to

shipping documents and sources.

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