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Trump Rescinds US Oil Tycoon's License to Buy Venezuelan Asphalt [Yahoo! Finance Canada]
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Most Read from Bloomberg Texas-based Global Oil Terminals, owned by Sargeant, must wind down operations in Venezuela by May 27, the person said Saturday. The company has until April 2 to pay any remaining debt owed to state oil company Petroleos de Venezuela. The Wall Street Journal reported late Friday that Sargeant's oil-trading company was ordered to leave Venezuela, citing a letter from the US Treasury Department. The Trump administration recently gave Chevron a May 27 deadline to wrap up its operations with Venezuela as a way to pressure President Nicolas Maduro's autocratic regime to make democratic reforms and accept more migrants from the US. Sargeant had initially obtained a two-year-waiver in May of last year, allowing Global Oil Terminals to purchase and transport asphalt to the US and the Caribbean region. A US Treasury press official didn't immediately respond to a request for comment. Most Read from Bloomberg Businessweek ©2025 Bloomberg L.P. Recommended S
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