U.S. Curtails LPG License to Venezuela Amidst Ongoing Energy Tensions

The Trump administration has brought an end to a license that allowed liquefied petroleum gas (LPG) shipments to Venezuela's state energy company, Petroleos de Venezuela SA (PDVSA), as announced by the U.S. Treasury Department on Monday.

The decision permits the offloading of LPG until September 5 for any shipments that were loaded on or before July 7. According to market sources, however, Venezuela has not taken advantage of this license, initially issued in 2021.

Venezuela relies on imported LPG, largely used for cooking fuel by the OPEC member nation. The move is part of the ongoing tensions affecting energy supply dynamics in the region.

(With inputs from agencies.)