Amos Global Awaits US License to Expand in Venezuela's Shallow Waters oedigital.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oedigital.com Daily Mail and Mail on Sunday newspapers.
Houston-based investment fund Amos Global Energy is waiting for a license from the U.S. Treasury Department to complete the purchase of Chinese Sinopec s stake in a shallow-water oil and gas project in Venezuela, the company said on Tuesday.
Houston-based Amos Global Energy is awaiting a U.S. Treasury Department license to acquire Chinese Sinopec's stake in a Venezuelan oil and gas project. As the U.S. tightens sanctions, the firm seeks to broaden its influence in Venezuela's energy sector. Additional collaborations with Italy's Eni are also in discussion.
Analysts and executives fear that the reimposition of sanctions could lead to a reduction in Venezuela's oil revenue, making it harder for the country to meet its energy needs. The move could also discourage new energy investments and increase the risk of domestic fuel shortages.
The United States has announced it is pulling back part of the oil and gas sanctions on Venezuela in a move that would hurt the OPEC country's ability.