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US Authorizes American Firms to Conduct Biz with Venezuelan State Oil Firm PDVSA
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The US issued a general license yesterday (19th), broadly authorizing American companies to conduct business with the Venezuelan state oil company PDVSA. This measure is part of the efforts by the administration of US President Donald Trump to alleviate the pressure on the oil market wrought by the conflict with Iran. This exemption follows legal reforms passed at the end of January, which granted PDVSA's partners the autonomy to operate oil fields, export crude oil, and realize revenue rights. This initiative has prompted negotiations for new contracts and project expansions. AASTOCKS Financial News Website: www.aastocks.com |
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