Shell and BP Push for Rodríguez-Persad Bissessar Meeting to Revive Trinidad and Tobago Gas Projects with Venezuela
British energy companies Shell and British Petroleum (BP) have obtained the approval of the Donald Trump administration to advance business with Petróleos de Venezuela (PDVSA), by being included in General License No. 50, issued by the Office of Foreign Assets Control (OFAC) of the Department of the Treasury.
TL;DR
- Shell and BP have been included in US General License No. 50, allowing them to advance business with PDVSA.
- The companies aim to expand natural gas operations in offshore fields extending from Trinidad and Tobago into Venezuelan waters.
- A previous energy agreement was denounced by Venezuela's government in late 2025 due to alleged US military presence in Trinidad and Tobago.
- Following a military incursion in Caracas and the detention of Maduro, US OFAC authorization has opened the door for renewed discussions.
- Shell and BP are working to facilitate a meeting between Venezuela's Minister of Hydrocarbons, Delcy Rodríguez, and Trinidad and Tobago's Prime Minister, Kamla Persad-Bissessar, to revive the energy agreement.