02:50 PM EDT, 10/08/2025 (MT Newswires) -- Shell (SHEL) is close to receiving US approval to restart work on Venezuela's Dragon offshore gas field to supply gas to Trinidad and Tobago, Bloomberg reported Wednesday, citing people familiar with the matter.

The license would exempt the project from sanctions and allow Shell to resume development with Trinidad's state-owned National Gas Co., the report said.

Shell is seeking approval for up to 10 years to support long-term investment. The Dragon field holds more than 4 trillion cubic feet of reserves and would help ease Trinidad's gas shortages, according to the report.

Shell did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 73.99, Change: -0.92, Percent Change: -1.23