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Investing.com -- French oil corporation Maurel et Prom announced on Monday that its license to operate in Venezuela has been revoked by the US, resulting in a 15% drop in its share value in early trade.
On March 29, it was reported that the Trump administration had informed international partners of PDVSA, the Venezuelan state oil company, about the impending termination of permits that enabled them to export Venezuelan oil and byproducts.
Spanish oil firm Repsol (OTC:REPYY) was also informed of the cancellation of its license on Monday. In response, Spain’s Foreign Minister Jose Manuel Albares stated that his government would support the interests of the company.
Additionally, Italian energy company Eni confirmed on Sunday that it had received notification from US authorities that it would no longer be permitted to accept oil from PDVSA as payment for the gas it produces in Venezuela.
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