Washington Allowed the Oil Service Company to Work with Caracas to Close Contracts
US authorities have allowed Halliburton, Schlumberger, Baker Hughes and Weatherford to carry out transactions in Venezuela until May 16, 2024
The US Treasury has extended until May 16, 2024 the licenses of four international oil service companies that must complete their work in Venezuela. This also applies to working with PDVSA.
It is worth noting that the license of Halliburton, Schlumberger, Baker Hughes and Weatherford is renewed several times. However, it does not include drilling and extraction of raw materials of Venezuelan origin. Most likely, this means that these companies work in the country only for American companies, which, as an exception, were also allowed to work with PDVSA.
Let us remember that the Biden administration is currently trying to improve relations with Caracas for the sake of this country’s oil. However, Washington is demanding political concessions from Nicolas Maduro. In addition, he is trying to receive Venezuelan oil exclusively for free, in order to pay off old debts.
At the same time, for a serious increase in production, Venezuela requires large investments and years of focused work to develop its oil and gas sector.
