OFAC GENERAL LICENSEActiveEnergy
GL 50A
GL 50A — Oil and Gas Sector Operations
Issued
Mar 13, 2026
Expiration
No expiration
Authorized entity
Operadores upstream extranjeros
Type
General
Scope
Authorizes specific operations in the Venezuelan oil and gas sector including field development, infrastructure, transportation, and commercialization by foreign operators (Repsol, Eni, BP, Shell, Maurel & Prom).
Authorized activities
- ·Desarrollo de campos upstream
- ·Operación de oleoductos y terminales
- ·Comercialización de crudo y gas
Prohibited activities
- ·Transferencias de capital nuevas sin autorización
VENE · ECONOMIST Analysis
- Fact
- GL 50A (13 de marzo de 2026) consolida la cobertura para majors europeos no-EE.UU. con presencia histórica en VE: Repsol (Cardón IV), Eni (Cardón IV, Perla), Maurel & Prom (Petroregional del Lago).
- Implication
- El gas no asociado de Cardón IV (capacidad ~1.0 bcf/d) puede activarse para exportación regional. Trinidad CNG y demanda Caribbean gain una alternativa de suministro.
- Indicator to monitor
- Activación comercial de Cardón IV. Anuncios de offtake agreements gas Eni/Repsol con compradores Caribbean.
Official source
This summary does not constitute legal advice. The final determination of scope and applicability of any OFAC license requires consultation with qualified legal counsel and review of the official text published by the Office of Foreign Assets Control. VENE · ECONOMIST maintains this page as editorial reference for institutional investors.
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