USA Extends Permission for Oil Companies to Transact with PDVSA
The US Treasury has once again extended permission for four US oilfield services companies to operate in Venezuela.
The 8L General License allows Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC and Weatherford International to retain Venezuelan assets until November 19 and enter into transactions with the local state-owned company PDVSA for this purpose, but without the right to operate.
The previous license expired on May 26th.
Previously, the license also extended to Chevron, but at the end of last year, the US authorities allowed it to extract and refine oil in cooperation with PDVSA and supply the joint venture’s products to the American market.
