The authorities of President Donald Trump within the United States has notified Repsol and different oil firms related to the Venezuelan PDVSA the cancellation of its permits to export crude and derived from that nation, in another step in its stress measures in direction of the regime of Nicolás Maduro. According to the 2024 accounts, Repsol produced a mean of 67 million barrels per day in that nation and has a patrimonial exposition to the nation of 504 million euros. The US, alternatively, is likely one of the primary markets for the Spanish firm and represents round 4% of its complete revenue.
In addition to Repsol, among the many affected firms are the American Global Oil Terminals, the Italian ENI, the French Maurel & Prom and India Reliance Industries. All of them had acquired permits from the earlier US authorities, from Democrat Joe Biden, to function with Venezuelan crude of their refineries around the globe regardless of the sanctions to the Bolivarian regime.
In an announcement, Eni confirmed this Sunday that he has acquired the US notification that cancels his export licenses from Venezuela. The Italian power big “continues its transparent conversations with US authorities to identify options that guarantee that non -sanctioned gas supplies, fundamental to the population, can be paid by PDVSA,” he says. “Eni always operates in full compliance with the framework of international sanctions.”
Trump introduced 25% tariffs to all nations that import Venezuelan oil and gasoline, together with Spain. According to the EFE company, many of the oil firms had already paralyzed manufacturing within the nation, though Repsol and Reliance have requested authorization to function in Venezuela. Companies have till the top of May to liquidate operations within the Latin American nation, intensifying the Trump administration marketing campaign to isolate Venezuela. In February, Venezuela exported 910,000 barrels per day of crude and gas, above January 867,000.
Repsol, in his 2024 accounts, defined that “given the relaxation of the coercive measures of the United States to the Government of Venezuela,” he signed an settlement with PDVSA in 2023 for the corporate they share, PetroquiriSquire, to extend manufacturing and facilitate the fee of the debt related to joint belongings with out supposing further investments for the Spanish firm. In truth, publicity to the Venezuelan market is the problems on which the auditor alerts within the monetary report of 2024.
In that report, the corporate that pilot Josu Jon Imaz because the CEO of specifies that the US led to April final yr with the overall license that granted the oil firms to function in Venezuela. He additionally clarified that in May he obtained a particular dispensation to function within the nation. This has now been rebuild, in accordance with a letter despatched by the White House to the Spanish firm, which has superior the Wall Street Journal. An organization spokesman has declined to remark.
In this context, Repsol had fired his enterprise with Venezuela in current months. In 2024, he acquired greater than three million tons of crude oil from the Venezuelan state oil firm, PDVSA, twice as a lot because the earlier yr. These figures make 2024 one of many workouts through which Repsol has acquired probably the most oil from Venezuela in 20 years, on the degree of the numbers of 2015, 2014 and 2006.
Repsol additionally admits on this similar report the change of the principles of the sport after Trump’s victory within the elections final November. “A high level of uncertainty is maintained in relation to foreign policy that can be launched with respect to Venezuela. In this sense, Repsol continues to adopt the necessary measures to continue its activity in Venezuela with full respect for the international regulations of applicable sanctions, including US policies in relation to Venezuela, and is making a constant monitoring of its evolution and, therefore, of the possible effects that could have on these activities report.
Trump also announced weeks ago the revocation of a key license granted to the American Chevron to operate in Venezuela, who will have to dismantle its facilities there. This week, the Treasury Department granted an extension to Chevron to conclude the operations with PDVSA, which initially had to end on April 3 but now they will have the term until May 27, so that the company can meet the orders already committed.
Likewise, the US president issued an executive order this week that establishes that the United States will begin to impose the 25 % tariff on any country that buys Venezuelan oil. These measures multiply Trump’s pressure on Maduro, which on January 10 swore his position for a new mandate despite the complaints of serious fraud in the elections last July. The United States, the EU and several partners in Latin America consider that the true winner was the opposition leader Edmundo González Urrutia.
Trump also criticizes the Chavista regime the lack of progress in the acceptance of irregular Venezuelan migrants intercepted in the United States, and accuses him of having sent thousands of members of the band of Aragua to the United States, to which the Republican Administration has included in the list of foreign terrorist organizations. “Venezuela has despatched on function and underneath deception, in secret, tens of hundreds of criminals of nice hazard and others, a lot of whom are murderers and other people of a really violent nature,” he wrote this week on his social network, Truth.
Nearly 1 / 4 of the Venezuelan inhabitants, nearly eight million folks, have deserted their nation to flee the repression and financial disaster of the Chavista regime within the final twelve years. Most have settled in different Latin American nations. According to the latest census, nearly 1,000,000 Venezuelans stay within the United States.
https://elpais.com/economia/2025-03-30/trump-revoca-el-permiso-de-repsol-para-exportar-crudo-desde-venezuela.html