financetom
Business
financetom
/
Business
/
US allows oil service firms to maintain assets in Venezuela through mid-Nov
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US allows oil service firms to maintain assets in Venezuela through mid-Nov
May 10, 2024 9:03 AM

WASHINGTON, May 10 (Reuters) - The U.S. on Friday

extended a license allowing certain transactions with Venezuelan

state oil company PDVSA so American energy service companies can

maintain assets after Washington last month re-imposed wide

sanctions on the OPEC member.

The companies, however, remain prohibited from drilling,

lifting, processing, purchasing, transporting or shipping any

Venezuela-origin oil.

The license is being extended through Nov. 15 and covers oil

services Halliburton ( HAL ), Schlumberger ( SLB ), Baker Hughes ( BKR )

, and Weatherford International PLC ( WFRD ), a notice on

the U.S. Treasury Department's website showed.

The Biden administration last month re-imposed sanctions on

Venezuela's oil sector in response to President Nicolas Maduro's

failure to meet his election commitments. The sanctions were

first imposed in 2019 during the administration of former

President Donald Trump.

Also last month, Treasury had given all companies doing

business with Venezuela, including oil purchases, until the end

of May to wind down pending transactions.

Venezuela's oil exports fell 38% in the month of April after

the re-imposition of sanctions approached.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Canada Nickel Edging Down As Closes $20 million Convertible Note with Taykwa Tagamou Nation
Canada Nickel Edging Down As Closes $20 million Convertible Note with Taykwa Tagamou Nation
May 27, 2025
11:38 AM EDT, 05/27/2025 (MT Newswires) -- Canada Nickel Company ( CNIKF ) on Tuesday closed a $20 million convertible note with Taykwa Tagamou Nation (TTN), first announced last December. The investment marks the largest known direct equity investment by a First Nation in a Canadian critical minerals company to date, a statement said. The note will have a five-year...
Nano Nuclear Stock Is Trading Lower Tuesday: What's Going On?
Nano Nuclear Stock Is Trading Lower Tuesday: What's Going On?
May 27, 2025
Nano Nuclear Energy, Inc. ( NNE ) shares are trading lower on Tuesday after the company announced pricing of its $105 million private placement. What To Know: Nano said it entered into a securities purchase agreement to sell approximately 3.89 million shares at $27 apiece. Following the private placement, the company expects to hold about $200 million in cash. It...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
SEALSQ Invests in Wecan Token to Bolster Blockchain-Based Identity Verification
SEALSQ Invests in Wecan Token to Bolster Blockchain-Based Identity Verification
May 27, 2025
11:39 AM EDT, 05/27/2025 (MT Newswires) -- SEALSQ ( LAES ) made an undisclosed investment in the Wecan Token to support secure and decentralized digital identity solutions. The investment marks a milestone in processes used by financial institutions and businesses to verify the identity of their customers using blockchain-based technologies, SEALSQ ( LAES ) said Tuesday in a statement. The...
Copyright 2023-2026 - www.financetom.com All Rights Reserved