BOGOTÁ, COLOMBIA (By Ana Sanches, Energy Analytics Institute, 25.Jun.2026, Words: 66) — The US Office of Foreign Assets Control (OFAC) issued general license no. 60 related to earthquake relief efforts in Venezuela. GL60 comes in the immediate aftermath of 2 massive earthquakes registered in Venezuela in 24 Jun. 2026 (7.2 […]
Tag: OFAC
OFAC issues GL5W related to PDVSA 2020 8.5% bond and transaction on/after 19 Jun. 2026
HOUSTON, TEXAS (Ofelia Paredes, Energy Analytics Institute, 4.May.2026, Words: 58) — The US Office of Foreign Assets Control (OFAC) issued general license no. 5W that authorizes certain transactions related to the state-owned Petróleos de Venezuela, S.A. (PDVSA) 2020 8.5% bond on or after 19 Jun. 2026. ____________________ By Ofelia Paredes reporting […]
US removes Venezuela’s interim leader Delcy Rodríguez from OFAC list
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 2.Apr.2026, Words: 192) — The US removed Venezuela’s interim president Delcy Rodríguez from the list of those sanctioned by The Office of Foreign Assets Control (OFAC). The interim president valued the decision of her US counterpart Donald Trump to remove her from […]
OFAC issues GL53 related to official Venezuelan missions to the US
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 24.Mar.2026, Words: 50) — The US Office of Foreign Assets Control or OFAC issued general license no. 53 related to official missions of the government of Venezuela to the US. ____________________ By Chad Archey reporting from Atlanta. © 1999-2026 Energy Analytics Institute (EAI). […]
Treasury comments on Venezuelan general license, benefits for the US and Venezuela
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 18.Mar.2026, Words: 137) — The US Treasury Department’s Office of Foreign Assets Control (OFAC) issued a license broadly authorizing established US entities to engage in many types of transactions with Venezuela’s state-owned Petróleos de Venezuela, S.A. (PDVSA), and its subsidiaries. The license will […]
EAI brief: OFAC issues GL49A related to contingent contracts
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 13.Mar.2026, Words: 50) — The US Office of Foreign Assets Control or OFAC issued general license no. 49A authorizing negotiations of and entry into contingent contracts for certain investment in Venezuela. ____________________ By Chad Archey reporting from Atlanta. © 1999-2026 Energy Analytics Institute […]
EAI brief: OFAC issues GL48A related to supply of certain items to Venezuela
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 13.Mar.2026, Words: 48) — The US Office of Foreign Assets Control or OFAC issued general license no. 48A authorizing the supply of certain items and services to Venezuela. ____________________ By Chad Archey reporting from Atlanta. © 1999-2026 Energy Analytics Institute (EAI). All Rights […]
EAI brief: OFAC issues GL46B related to Venezuelan petrochemical products
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 13.Mar.2026, Words: 46) — The US Office of Foreign Assets Control or OFAC issued general license no. 46B authorizing certain activities involving Venezuelan-origin oil or petrochemical products. ____________________ By Chad Archey reporting from Atlanta. © 1999-2026 Energy Analytics Institute (EAI). All Rights Reserved.
EAI brief: OFAC issues GL51 related to gold in Venezuela
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 6.Mar.2026, Words: 48) — OFAC issued general license 51 (GL51) authorizing certain activities involving Venezuelan-origin gold. RELATED: VENEZUELA TO PRESENT MINING LAW TO THE NATIONAL ASSEMBLY ____________________ By Piero Stewart reporting from Panama City. © 1999-2026 Energy Analytics Institute (EAI). All Rights […]
EAI brief: OFAC issues GL50A, says contract dispute resolutions to occur in the US
HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 18.Feb.2026, Words: 140) — The US Office of Foreign Assets Control (OFAC) issued general license 50A, dated 18 Feb. 2026, which authorizes transactions by certain entities related to Venezuela’s oil or gas sector. Importantly, GL50A states the following: (1) Any contract for such […]
![OFAC issues general licenses related to Venezuela [3 PDF downloads]](https://energy-analytics-institute.org/wp-content/uploads/2020/03/Varios-heridos-de-gravedad-en-Venezuela-por-un-incendio-en-una.jpg)
OFAC issues general licenses related to Venezuela [3 PDF downloads]
WASHINGTON, DC (By OFAC, 10.Feb.2026, Words: 62) — The Department of the Treasury‘s Office of Foreign Assets Control (OFAC) is issuing Venezuela general license 48, “authorizing the supply of certain items and services to Venezuela;” Venezuela general license 30B, “authorizing certain transactions necessary to port and airport operations;” and Venezuela general […]
EAI brief: OFAC issues GL no. 5U related to PDVSA 8.5% 2020 bonds
HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 2.Feb.2026, Words: 89) — Effective 2 Feb. 2026, general license no. 5T, dated 19 Dec. 2025, is replaced and superseded in its entirety by this general license no. 5U. General license no. 5U authorizes certain transactions related to the Petróleos de Venezuela, S.A. […]
OFAC issues general license no. 46 related to Venezuela
HOUSTON, TEXAS (By Editors with Energy Analytics Institute, 29.Jan.2026, Words: 46) — The US Office of Foreign Assets Control (OFAC) issued general license no. 46, authorizing certain activities involving Venezuelan-origin oil. ____________________ By editors reporting from Houston and Caracas. © 1999-2026 Energy Analytics Institute (EAI). All Rights Reserved.
OFAC reveals Chinese company additions to SDN list, Venezuelan vessel designations
WASHINGTON, DC (By OFAC, 31.Dec.2025, Words: 342) — The US Office of Foreign Assets Control (OFAC) revealed recent actions updates for the US Department of the Treasury. The following entities have been added to OFAC’s SDN List: ARIES GLOBAL INVESTMENT LTD (a.k.a. ARIES GLOBAL INVESTMENT LIMITED), Room 2611, 26th Floor, Southeast […]
EAI brief: OFAC authorizes certain PDVSA 8.5% bond transactions
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 19.Dec.2025, Words: 59) — The US Department of the Treasury‘s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 5T, “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5% Bond on or After February 3, 2026.” ____________________
Trinidad secures 6 month OFAC license for Venezuela’s Dragon gas
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 10.Oct.2025, Words: 305 — Twin-island nation Trinidad and Tobago secured a 6-month license from the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) enabling negotiations with neighboring Venezuela related to procurement of natural gas from the Dragon field, […]
US Treasury takes actions targeting key elements of Iran’s energy export machine
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 9.Oct.2025, Words: 306) — The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced actions that intensify its efforts against Iran’s petroleum and petrochemical exports by sanctioning more than 50 individuals, entities, and vessels that facilitate Iranian oil and […]
US supportive of OFAC licenses for Trinidad-Venezuela cross-border developments
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 30.Sep.2025, Words: 233) — Trinidad and Tobago’s prime minister Kamla Persad-Bissessar obtained the support of the US for the development of the Caribbean country’s hydrocarbon cross-border resources. This support was secured during high-level discussions with US secretary of state Marco Rubio at […]
Treasury’s OFAC takes decisive action against violent Mexican cartels
WASHINGTON, DC (by US Treasury, 14.Aug.2025, Words: 1,104) — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning two notorious Mexican cartels—Carteles Unidos (a.k.a. “United Cartels”) and Los Viagras—and seven affiliated individuals linked to terrorism, drug trafficking, and extortion in Mexico’s agricultural sector. Treasury’s action, taken […]
OFAC sanctions Brazilian supreme court justice Alexandre de Moraes
WASHINGTON, DC (By Treasury, 30.Jul.2025, Words: 510) — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning Brazilian Supreme Federal Court (STF) justice Alexandre de Moraes (de Moraes), who has used his position to authorize arbitrary pre-trial detentions and suppress freedom of expression. “Alexandre de […]
![OFAC issues general license no. 40D regarding offloading of LPG in Venezuela [download]](https://energy-analytics-institute.org/wp-content/uploads/2020/10/lpg-vzla-source-pdvsa.jpg)
OFAC issues general license no. 40D regarding offloading of LPG in Venezuela [download]
HOUSTON, TEXAS (By Isaac Silvestre, Energy Analytics Institute, 7.Jul.2025, Words: 270) — As part of the US’ Venezuela sanctions regulation, the US Office of Foreign Assets Control (OFAC) issued general license no. 40D authorizing the offloading of liquefied petroleum gas (LPG) in Venezuela. Details around the GL40D include:
Chevron confirms expiration of GL 41B that impacts operations in Venezuela
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 29.May.2025, Words: 246) — Chevron Corporation confirmed expiration of General License 41B (GL41B), issued by the US Office of Foreign Assets Control (OFAC), which gave the US energy giant until 27 May 2025 to wind down operations in Venezuela. Chevron has operated […]
Trump, OFAC and Chevron’s “secret” license to operate in Venezuela
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 28.May.2025, Words: 274) — The administration of US president Donald Trump has authorized Chevron Corporation to continue limited activities in the OPEC country, but with a key change: this time the license is secret. “It is an important turn with respect to […]
US set to extend Chevron’s lifeline in Venezuela another 60 days amid negotiations
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 20.May.2025, Words: 209) — Chevron Corporation, which has operated in Venezuela for the greater part of 100 years, could be given an extended lifeline to operate another 60 days in Venezuela, according to initial reports by Bloomberg. This, as the government […]
US Treasury takes steps to stop Iran from manufacturing missile components
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 14.May.2025, Words: 224) — The US Department of the Treasury‘s Office of Foreign Assets Control (OFAC) designating 6 individuals and 12 entities for their involvement in efforts to help the Iranian regime domestically source the manufacturing of critical materials needed for Tehran’s ballistic missile […]
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, according to shipping data and sources, as the government had no certainty of payment amid the hardening of U.S. sanctions on the OPEC-member country. An […]
OFAC eats Dragon, revokes license for Dragon and Cocuina fields
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 8.Apr.2025, Words: 806) — The Office of Foreign Assets Control (OFAC) has revoked 2 special licenses important to Trinidad and Tobago. 1 for the Dragon natural gas field and another for the cross border Manakin/ Cocuina field, the country’s Prime Minister […]
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 7 entities involved in a money laundering network supporting the Sinaloa Cartel, a US-designated Foreign Terrorist Organization (FTO). The Sinaloa Cartel “is responsible for […]
![OFAC Releases GL41A Stipulating Chevron Wind Down in Venezuela [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/04/Screenshot_2020-04-25-Chevron-barred-from-drilling-transporting-oil-in-Venezuela-U-S-official.png){kind=icon}
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. 2025, authorizing the wind down of certain transactions related to Chevron Corporation‘s joint ventures (JVs) in Venezuela. Chevron has until 3 Apr. 2025 to wind […]
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 key economic and security agencies enabling Nicolas Maduro’s repression and subversion of democracy in Venezuela. The individuals sanctioned, pursuant to Executive Order (E.O.) 13692, as […]
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 policy. President Nicolas Maduro has seemingly remained impervious to either the carrot or stick handed out by the US and looks set to carry out […]
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 authorizes the wind down of transactions related to oil or gas sector operations in Venezuela. ____________________ By Piero Stewart. © Energy Analytics Institute (EAI). All […]
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 United States continue to negotiate without success its renewal under the requirement of holding competitive presidential elections on July 28, Venezuelan officials said. “Today at […]
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 sector, a State Department spokesperson said, unless progress is made by President Nicolas Maduro on commitments for free and fair elections this year. The U.S. […]
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 from competing in this year’s presidential election, are inconsistent with the agreements signed in Barbados in Oct. 2023 by representatives of Maduro and the opposition […]
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. 2024, which relates to “Authorizing the Wind Down of Transactions Involving CVG Compania General de Mineria de Venezuela CA.” ____________________ By Ian Silverman. © Energy […]
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% bond on or after 16 Apr. 2024, the agency revealed 16 Jan. 2024 in an official statement. ____________________ By Piero Stewart. © Energy Analytics Institute […]
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 Maduro regime is the most significant alteration of Venezuela policy in the last several years, coupled with routine deportation flights started on the same day as […]
![The lifting of sanctions and the oil collapse of Venezuela [PDF download]](https://energy-analytics-institute.org/wp-content/uploads/2020/09/Venezuela-requests-the-extradition-of-former-PDVSA-president-Rafael-Ramirez.jpg)
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 that had been in place since Jan. 2019. The OFAC measure is of a temporary nature, for a period of six months, subject to compliance […]
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 conference call with analysts. Gattei said the Opec country is “clearly is now an opportunity”, referring to the state of play in the country after […]
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 for six months, paving the way for additional exports of the heavy, sour crude oil the country produces. That type of crude oil has been […]
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 South American country’s oil industry in response to its new agreement to allow free elections next year. The move reverses years of U.S. policy aimed […]
![FAQ: Suspension of Certain US Sanctions on Venezuela [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2018/07/DSCF79430001-1200x635.jpg)
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 the Unitary Platform, as part of the longstanding policy to support the peaceful restoration of democracy, competitive elections, and respect for the rights and freedoms […]
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 Energy Industries, The Honourable Stuart Young, of the further progress with the development of Dragon field and the granting of an amended license from the […]
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 Stuart Young has announced. He also disclosed that the United States government has approved an amendment to the licence granted in January for the joint […]
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 with likeminded partners and other friends of Venezuela, the United States will continue its efforts to unite the international community in support of the Venezuelan-led […]
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, as part of the actions to strip the country of its main asset abroad. The US oil company takes advantage of the actions promoted by […]
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 a key oil provider to the fuel-thirsty island, according to vessel monitoring data. Following days-long lines to fill drivers’ tanks and power blackouts, the communist-run nation saddled […]
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 Inc. from an arm of Russian-controlled oil company Rosneft on Wednesday, 21 June 2023. This event brings to a close years of effort to recover […]
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 court-ordered sale of shares of Citgo Petroleum Corp.’s parent company, PDV Holding, to pay off creditors who have sought payment from the Venezuelan state; OFAC authorizing […]