US renews license to oil service firms in Venezuela on same terms (updated)

Weatherford International

16/11/2023 19:23

(Adds context, license details)
       WASHINGTON, Nov 16 (Reuters) - The U.S. on Thursday
extended through May 16 a license allowing four oilfield service
firms to maintain their current assets in Venezuela, while
restricting what services they can perform in the country.
        Halliburton  HAL.N , SLB  SLB.N , Baker Hughes  BKR.O 
and Weatherford International can maintain "essential
operations" in Venezuela, including those to ensure personnel
safety and asset integrity, according to a notice posted on the
U.S. Department of Treasury website.
    But the companies remain prohibited from drilling, lifting,
processing, purchasing, transporting or shipping any
Venezuela-origin oil.
        Some of the four have engaged in talks with President
Joe Biden's administration in recent years to have their license
expanded. 
  
        But U.S. officials have said that if there is no
progress by Veneuzuela towards a fair presidential election in
2024, recent sanction easing could be frozen or reverted.
  

 (Reporting by Caitlin Webber and Marianna Parraga; writing by
Susan Heavey; Editing by Doina Chiacu)
 ((sheavey@thomsonreuters.com; +1-202-898-8300;))