US Revokes Licenses for Several Oil, Gas Companies Operating in Venezuela

The United States has revoked licenses for several international oil and gas companies to operate in Venezuela, marking a significant escalation in Washington's pressure on President Nicolás Maduro's regime. The action affects companies such as Chevron, Repsol, Maurel & Prom, and others, who had previously been granted licenses to operate in Venezuela despite U.S. sanctions.

The revocation of these licenses is part of the US's broader strategy to economically cripple Venezuela, aiming to restrict Maduro’s access to global oil markets. Venezuelan officials confirmed that companies have been notified, with a deadline to cease operations by May 27.

This move follows U.S. President Donald Trump's earlier tariffs on Venezuelan oil imports and comes amid ongoing political tensions over Venezuela's disputed elections. Chevron and other firms, which had been allowed to continue production under previous exemptions, are now expected to wind down operations as part of the intensified sanctions.

Venezuela's oil production, once a major global contributor, has seen a drastic decline in recent years, contributing to the ongoing economic crisis.