Reuters
French oil producer Maurel & Prom (MAUP.PA), opens a new tabVenezuela hopes to be able to resume oil exports soon, it said on Monday after the US government eased sanctions on the country's energy sector. Reuters The United States issued two general licenses on Friday, giving major energy companies the ability to operate in OPEC member Venezuela, representing the most significant easing of sanctions against Venezuela since US forces captured and overthrew President Nicolas Maduro last month.
TL;DR
- The US has eased sanctions on Venezuela's energy sector by issuing two general licenses.
- Maurel & Prom hopes for a resumption of oil exports from Venezuela following the sanctions relief.
- The company is not directly covered by the new licenses but views the change as constructive.
- Maurel & Prom has reported a significant increase in identified oil reserves in Venezuela.
- Activities in the Urdaneta Oeste field are progressing, with the company ready for the next development phase.