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flag US OFAC extends General License for essential Venezuela operations.

flag The US Department of the Treasury's Office of Foreign Assets extended General License 8N, related to Venezuela Sanctions Regulations, until November 15, 2024. flag This authorizes transactions and activities for limited maintenance of essential operations, contracts, or agreements involving Petróleos de Venezuela, S.A. (PdVSA) or any entity with a 50% or greater interest in PdVSA. flag The move allows foreign oil companies with existing operations in Venezuela to secure US licenses, especially Halliburton, Schlumberger, Baker Hughes, and Weatherford International, ahead of a May 31 deadline.

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