Trump administration orders Global Oil Terminals to end operations in Venezuela

The oil scene in Venezuela experiences a new change. Global Oil Terminals, part of a Florida conglomerate owned by Harry Satherant, has lost its authorization to operate in the country, following the steps of Chevron, which received a similar notification last month. The decision raises questions about the future of US companies in the sector.

For the National

The Saryant’s Global Oil company, which since May 2024 had been importing Venezuelan heavy oil for use in the paving of US roads, has seen its three licenses revoked in Venezuela. This decision ends its operations in the country, which included the regular oil burden in Venezuelan ports.

A letter from the United States Treasury Department, obtained by The Wall Street Journal, It reveals an order for Global Oil Terminals and other entities to complete their payments to Venezuela before April 2. Sargeant’s, in an exchange of messages with the Journal, indicated that this adjusted term accelerates the withdrawal process.

The Donald Trump administration seeks to press Nicolás Maduro, following the recommendations of the «hawks» of its foreign policy. However, this decision collides with the vision of American oil executives, who fear that their withdrawal from Venezuela will open the door to the influence of China and other rivals in the region.

Repsol and Maurel & Prom

The Spanish Repsol and the French Maurel & PROM are among the other companies that must also close their operations in Venezuela before May 27, sources linked to the subject said Bloomberg

Beyond the oil sector, the decision of the US Treasury Department directly impacts Venezuelan gas companies. These companies, which have agreements with PDVSA, will see their licenses affected by the new measure, according to information obtained by a source.

The Treasury Department had facilitated the operations of international oil and gas companies in Venezuela, despite the sanctions. Through permits such as licenses, exemptions and guarantee letters, these companies could carry out activities such as PDVSA oil export.

Meanwhile, Chevron faces an imminent term to conclude its operations in Venezuela. The Trump administration set on May 27 as a deadline for the US company to cease its activities in the country, as part of a strategy to press the Maduro government.