OFAC Archives -

Chevron’s Venezuelan oil cargoes canceled, stalled amid payment uncertainty

HOUSTON, TEXAS (Reuters, 11.Apr.2025) — At least two vessels carrying Venezuelan crude chartered by Chevron are stalled due to state oil company PDVSA canceling their export authorizations, […]

OFAC eats Dragon, revokes license for Dragon and Cocuina fields

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 8.Apr.2025) — The Office of Foreign Assets Control (OFAC) has revoked 2 special licenses important to Trinidad […]

Treasury Sanctions 6 Individual and Other Entities with Links with the Sinaloa Cartel

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Mar.2025) — The department of the US Treasury’s Office of Foreign Assets Control (OFAC) designated 6 individuals and […]

OFAC Releases GL41A Stipulating Chevron Wind Down in Venezuela [PDF Download]

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 4.Mar.2025) — The Office of Foreign Assets Control (OFAC) issued General License No. 41A on 4 Mar. […]

Official Statement: Multilateral Action Maintains Pressure on Maduro and his Representatives

(US Department of Treasury, 10.Jan.2025) — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning eight Venezuelan officials who lead […]

Broken Promises: US Oil Sanctions and Venezuela

(Rystad Energy, 29.Apr.2024) — For President Joe Biden, the situation in Venezuela remains a fly in the ointment, weighing on the administration’s energy and foreign […]

OFAC Issues GL44A to Replace GL44 in Venezuela

(Energy Analytics Institute, 17.Apr.2024) — The U.S. Office of Foreign Assets Control (OFAC) issued General License 44A, which supersedes and replaces General License 44, and […]

Negotiations Fail to Renew Venezuela Sanctions Relief License

(S&P Global, 17.Apr.2024) — A few hours before the expiration of a temporary oil and gas sanctions relief license, the governments of Venezuela and the […]

US Not to Renew Easing of Venezuela Oil Sanctions Unless Progress Made on Elections

(Reuters, 15.Apr.2024) — The U.S. will not renew a temporary license set to expire on Thursday that widely eased sanctions on Venezuela’s oil and gas […]

FAQs: Suspension of Certain U.S. Sanctions with Respect to Venezuela

(OFAC, 2.Feb.2024) — Actions by Maduro and his representatives in Venezuela, including the arrest of members of the democratic opposition and the barring of candidates […]

OFAC on Wind Down of Transaction of CVG [PDF Download]

(Energy Analytics Institute, 29.Jan.2024) — The US Department of the Treasury‘s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 43A on 29 Jan. […]

OFAC Updates on PDVSA Bond, Transactions [PDF Download]

(Energy Analytics Institute, 16.Jan.2024) — The US Office of Foreign Assets Control (OFAC) authorized certain transactions related to state-owned Petróleos de Venezuela, S.A.‘s 2020 8.5% […]

On the Uses and Misuses of Venezuela Sanctions

(CSIS, 29.Nov.2023) — Over the last month, the Biden administration has presided over a sea change in U.S. policy toward Venezuela. The recent lifting of sanctions on […]

The Lifting of Sanctions and the Oil Collapse of Venezuela [PDF Download]

(Rafael Ramírez, 16.Nov.2023) — On 18 Oct., the US Office of Foreign Assets Control (OFAC)[1] issued Licenses 43 and 44,[2] lifting the sanctions on the Venezuelan oil and mining sector […]

Eni CFO Gattei Says Venezuela ‘Clearly Is Now An Opportunity’

(Energy Analytics Institute, 27.Oct.2023) — The CFO of Eni S.p.A., Francesco Gattei, commented on the situation in Venezuela during the Italian company’s third quarter 2023 […]

Venezuela’s Heavy Oil Output Rises Limited Following US Sanctions Relief: EIA

(EIA, 23.Oct.2023) — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) effectively lifted most U.S. sanctions on Venezuela’s energy sector on October 18 […]

Biden Eases Sanctions on Venezuelan Oil, Republicans Howl

(Politico, 18.Oct.2023) — The Biden administration said Wednesday it will ease sanctions against companies that trade in oil produced in Venezuelan or invest in the […]

FAQ: Suspension of Certain US Sanctions on Venezuela [PDF Downloads]

(US Department of State, 18.Oct.2023) — On October 18, 2023, the United States welcomed the announcement of a political agreement between representatives of Maduro and […]

Energy Chamber Welcomes Progress on Dragon Field Development

(The Energy Chamber, 17.Oct.2023) — The Energy Chamber of Trinidad & Tobago warmly welcomes the announcement from the Trinidad & Tobago Minister of Energy and […]

T&T Can Pay Cash for Dragon Field Gas

(Trinidad Express, 17.Oct.2023) — Trinidad and Tobago can now make cash payments to Venezuela for the natural gas extracted from the Dragon field, Energy Minister […]

Venezuelans Return to Negotiations

(US Treasury, 16.Oct.2023) — The United States welcomes the announcement by Nicolas Maduro representatives and the Unitary Platform to resume Venezuelan-led negotiations in Barbados. Along […]

Exxon Mobil Wants its Piece of Citgo

(USA Today, 17.Aug.2023) — The transnational Exxon Mobil, along with 19 other creditors, registered their claims against Venezuela before a court in the United States, […]

Cuban Oil Tankers Becoming Regular Visitors to Mexican Ports

(Reuters, 10.Aug.2023) — Cuba has begun using its own tankers to ramp up crude imports from Mexico, which in the second quarter surpassed Russia as […]

PDV Holding Recovers Citgo Stock Certificate

(PDV Holding, 26.Jun.2023) — PDV Holding, Inc. successfully recovered a stock certificate representing 49.9% of the outstanding shares of stock in its subsidiary CITGO Holding […]

EAI’s NRGBriefs: Apr. 2023

(Energy Analytics Institute, 30.Apr.2023) — Energy briefs as well as others related to finance and politics during April 2023 including the US not blocking the […]

OFAC on Possible Evasion of Russian Oil Price Cap [PDF Download]

(OFAC, 17.Apr.2023) — The Office of Foreign Assets Control (OFAC) is issuing this alert to warn US persons about possible evasion of the price cap […]

Rowley Says OFAC Approves Trinidad’s Development of the Dragon Field

(Office of the Prime Minister of Trinidad and Tobago, 24.Jan.2023) — As you all are aware, the United States is our major trading partner and […]

Could A Controversial Chevron Deal Be A Prelude To Venezuela’s Oil Renaissance?

(Forbes, 2.Dec.2022) — A video that state-owned oil giant Petróleos de Venezuela posted to its Twitter feed this week shows a jovial meeting between Oil […]

Enhancing the US-UK Sanctions Partnership

(US Treasury, 17.Oct.2022) — As Directors of two of the world’s leading financial sanctions implementation authorities, we are committed to our close working relationship. As […]

Chevron Applies for Venezuela License Renewal

(Reuters, 1.Sep.2022) — Chevron Corp has asked the U.S. government to expand its license to operate in Venezuela after the oil major agreed with state-run PDVSA to […]