Venezuela says U.S. revoked transnational oil, gas company licenses

US revokes oil companies' licenses in Venezuela despite sanctions, impacting Chevron, Repsol, Eni, Reliance Industries, and Maurel & Prom.

The United States has revoked several transnational oil and gas companies' licenses to operate in Venezuela, Caracas said on Sunday, which had been granted despite Washington's sanctions against the South American country.

US President Donald Trump is seeking to strangle Venezuela economically in order to cripple its leader Nicolas Maduro, and announced a week ago 25 percent tariffs on imports from countries buying Venezuelan oil and gas.

Venezuela did not specify which companies were affected but French oil firm Maurel & Prom (M&P) said on Monday that the special license it had been granted last May had been revoked.

M&P said the US Treasury's Office of Foreign Assets Control (OFAC) had given it until May 27 to wind down its activities in Venezuela.

"It is M&P's understanding that this action is part of a broader initiative by OFAC affecting both US and international oil companies operating in Venezuela under similar authorisations, pending a possible agreement between the US and Venezuela as the situation continues to evolve," it said in a statement.

US energy giant Chevron had its license revoked in February.

The Wall Street Journal reported on Saturday that Washington had ordered Global Oil Terminals, owned by tycoon Harry Sargeant III, to cease operating in Venezuela.