Western energy majors are returning to Venezuela after the US issued its broadest sanctions relief yet, with Shell and others signing oil and gas deals.
Chevron, Shell, BP, Eni and Repsol resumed Venezuela operations after June sanctions relief, with Shell advancing offshore gas projects. The easing reasserts Western market control while routing revenues through US accounts—a strategic counter to Chinese and Russian influence in Latin America.
Venezuela · Energy
Key Facts
—The opening. On June 10, the US issued its broadest relief yet on Venezuela sanctions.
—The players. Chevron, Shell, BP, Eni, Repsol and Maurel & Prom are cleared to operate.
—The deals. Shell is advancing offshore gas projects while service firms return.
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