The Oil Giant Got Permission To Continue Buying Asphalt From Venezuela.

|Bitumen Africa|

Wednesday ,May29 ,2024  10:23 am

The American energy giant received permission to continue importing asphalt from Venezuela without violating US sanctions.

Oil company that want to operate in Venezuela have applied from permits from the US Treasury after Washington reimposed sanctions last month.

Texas-based Global Oil Terminals, owned by Sageant , in January signed a deal with state-owned Petroleums the Venezuela SA to impot 695,000 barrels of asphalt cargo for infrastructure projects in the United States.

The two-year waiver, granted on May24, will allow Global Oil Terminals to continue buying and shipping asphalt to the United States and the Caribbean, Sargent said in an interview.

A spokesperson for the AUS Treasury Department didn't respond to a request for comment.

The United States is trying to use the leverage of sanction to ensure a better presidential election in July. President Joe Biden's administration recently reimposed restrictions on Venezuela's oil and gold sectors after Nicolas Maduro's government backed out of some election guarantees it agreed on last year.

Other oil companies with existing options in Venezuela, such as French driller Maurel & Prom and Spanish oil major Repsol SA, have also been awarded licenses this month to continue their activities under sanction.

Additional firm's such as Reliance Industries and Ecompetrol SA are also requesting waivers.