Modern.az

Venezuelan oil into the control of 5 Western companies passed

Venezuelan oil into the control of 5 Western companies passed

World

14 February 2026, 10:08

To support Venezuela's oil economy, 5 Western oil and gas companies have been granted licenses to operate in the country.

Modern.az reports that the Trump administration has made a decision on this matter. BP, Chevron, Eni, Repsol, and Shell will operate in Venezuela.

Operations and payments will be controlled by the US, and contracts will be regularly reviewed by US agencies.

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