USA’s OFAC Rescinds #Oil #Sanctions Relief for #Venezuela (GL 44A)



GL 44A does not impact other GLs besides GL 44 related to oil and gas operations in Venezuela, most notably GL 41 authorizing certain transactions related to Chevron's joint ventures (JVs) in Venezuela and GL 8M —authorizing transactions involving specified companies operating in Venezuela for the limited maintenance or wind down of such companies' operations.

Further, GLs 3I and 9H, authorizing certain secondary trading of previously issued Government of Venezuela and PDVSA securities, has not at this time been revoked.

https://www.millerchevalier.com/publication/trade-compliance-flash-ofac-rescinds-venezuela-license-providing-oil-sanctions-relief

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MasterEnergy bit.ly

$XOM: #Exxon beats earnings forecasts for 1st time in 3 quarters

Trading & rising production in #Guyana offset falling #Oil prices.

Exxon ended quarter with $31.6 billion of cash, 4% lower than previous period, mainly due to shareholder payouts:

Exxon paid out S&P 500's fourth-largest combination of dividends and buybacks during the past 12 months.