France's M&P, Spain's Repsol say Venezuela oil licences revoked by US [Yahoo! Finance]
REPSOL SA SP/ADR (REPYY)
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Source: Yahoo! Finance
Reuters reported on March 29 citing sources that the Trump administration had notified foreign partners of Venezuelan state oil firm PDVSA of the imminent cancellation of authorisations that allowed them to export Venezuelan oil and byproducts. Spanish oil company Repsol was also notified that its licence had been revoked, it said on Monday, prompting Foreign Minister Jose Manuel Albares to say his government would defend the interests of the firm. Italy's Eni confirmed on Sunday that it was also notified by U.S. authorities that it would no longer be allowed to receive oil from PDVSA as payment for gas it produces in Venezuela. Former U.S. President Joe Biden's administration had authorised exceptions to U.S. sanctions on Venezuela to allow individual companies to source Venezuelan oil to feed refineries from Spain to India. Last week, U.S. President Donald Trump issued an executive order declaring that any country buying oil or gas from Venezuela will pay a 25% tariff on tr
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