Prices at the Pumps - April 17, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesHOUSTON/CARACAS - Venezuela's loss of a key U.S. license that allowed it to export oil to markets around the world and secure investment is expected to hit the volume and quality of its crude and fuel sales while prompting a flurry of requests for individual U.S deal authorizations.U.S.
But the Treasury also explained that"entering into new business, including new investment that was previously authorized under license 44, will not be considered wind-down activity," casting doubts on what type of transactions will be allowed. Venezuela's opposition is negotiating to choose its candidate for the July 28 presidential election, after both the winner of its primary and her alternate were prevented from registering.
Other project expansions are expected to be green-lit by Venezuelan authorities before the 45-day wind down period, oil minister Pedro Tellechea said on Wednesday.In March, PDVSA's oil exports climbed to some 900,000 barrels per day , their highest level in four years as customers rushed to complete purchases ahead of the expiration. But the backlog of tankers waiting to load at Venezuelan ports has not eased significantly, shipping data showed.
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