Trump Revokes Shell, BP Gas Licenses for Offshore Venezuela

The Trump Administration has escalated its crackdown on Venezuela’s oil and gas industry, revoking key licenses for international energy majors, including Shell plc (SHEL) , BP plc (BP) and Chevron Corporation (CVX) . These licenses had previously allowed operations in offshore Venezuelan gas fields and the export of resources to neighboring Trinidad and Tobago.The move affects two major gas projects — Shell’s involvement in the Dragon gas field and BP’s role in the Cocuina-Manakin project. Both projects we ...