T&T gets US licences for Venezuela oil and gas work

Fresh US paperwork just rebooted stalled gas deals and shoved Trinidad and Tobago back into the Venezuela energy game under Washington’s watch.

New US licences reset energy play

• The Trinidad and Tobago government snagged two US general licences for Venezuela-linked energy work.
• Prime Minister Kamla Persad-Bissessar pitched the move as a tighter US partnership.
• Her statement on X framed it as a Caribbean energy hub flex.
• Officials said compliance with US law will guide every step.

Payment rules and tight guardrails

• Licence terms route taxes and royalties through US-directed foreign funds.
• Petróleos de Venezuela SA appears only via controlled payment channels.
• Treasury guidance blocks debt swaps, gold deals, and state-backed crypto.
• Washington keeps final say on where the cash lands.

Dragon and Manakin-Cocuina saga

• Cross-border talks center on the Dragon and Manakin-Cocuina gas fields.
• Washington yanked earlier OFAC licences in April 2025.
• That freeze hit projects after over US$1 million yearly taxes.
• By October 2025, a six-month OFAC pass revived negotiations.

Venezuela upheaval shifts dynamics

• A US military operation detained President Nicolás Maduro and his wife.
• Washington said it would temporarily administer Venezuela during the transition.
• Kamla Persad-Bissessar publicly backed the US Caribbean deployment.
• With licences active, Port of Spain aims to lock regional energy clout.