License Details
LicenseGL 8M
OFAC titleAuthorising Transactions Involving Petróleos de Venezuela, S.A. (PdVSA) Necessary for the Limited Maintenance of Essential Operations in Venezuela
Coverageenergy, oil-gas, PDVSA
StatusPeriodically renewed (typically 6-12 month terms)
SourceCurated Caracas Research entry
Plain-English Summary
Permits Chevron, Halliburton, Schlumberger, Baker Hughes, and Weatherford to engage in essential maintenance operations involving PdVSA, with strict reporting requirements.
AI-Assisted Analysis
GL 8M is part of the Venezuela energy-sanctions framework. Investors should treat it as a permissions boundary for oil, gas, PDVSA, or service-company exposure rather than as broad sanctions relief.
- Amendments, extensions, or replacement license numbers
- Counterparty limits involving PdVSA, Venezuelan state entities, or blocked persons
- Wind-down dates, reporting requirements, and payment restrictions
Internal Context
Track related updates in the Venezuela sanctions tracker, compare active licenses in the general-license directory, and screen counterparties with the OFAC Venezuela sanctions checker.