Trump revokes licences for BP and Shell projects in Venezuelan waters

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Washington’s action also represents a blow to Trinidad and Tobago’s struggle to supply the Atlantic LNG project, which has been forced to idle a fifth of its capacity since 2020 due to shortages of domestic gas.

He said his government would seek to appeal.“This does not come necessarily as a surprise, seeing how volatile things are, not only with respect with Venezuela, but what we are seeing for example with the application of tariffs . . . There seems to be a lot of unsettling times in Washington DC,” Young said at a news conference.

US sanctions prohibit any business with Venezuela’s state-owned oil major Petróleos de Venezuela, though the Biden administration granted exemptions as it tried unsuccessfully to coax Maduro into pro-democracy political reforms.

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Article Details

Author / Journalist: Jamie Smyth

Category: MarketsFinanceInvesting

Markets: United StatesTrinidad and TobagoVenezuela

Topics: Licences Government Tobago Shell Administration Trinidad Revoked Projects Venezuela Maduro Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-08 @ 23:53:02 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 640 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 27742391

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