Category: OFAC
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OFAC targets nine more Iranian shadow fleet vessels
OFAC targets nine more Iranian shadow fleet vessels Citing “the Iranian regime’s brutal crackdown on peaceful protestors and its complete shutdown of internet access to conceal its abuses,” against the Iranian people, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is increasing pressure on the regime’s shadow fleet. OFAC is targeting…
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U.S. adds more Venezuela-linked tankers to sanctions list
U.S. adds more Venezuela-linked tankers to sanctions list The U.S. Treasury’s Office of Foreign Assets Control (OFAC) yesterday issued new sanctions on the Venezuelan oil sector that included six shipping companies and six ships associated with them. This has led to media and industry speculation that they could be subject the same sort of seizure…
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US axes Shell and BP’s licenses for cross-border gas fields
US axes Shell and BP’s licenses for cross-border gas fields The U.S. Office of Foreign Assets Control (OFAC) has changed its mind about two special licenses – operated by the UK-headquartered Shell and BP, respectively – for gas fields straddling the maritime boundary between Venezuela and Trinidad and Tobago. The post US axes Shell and BP’s licenses…
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US order sets date for Chevron to grind oil exports from Venezuela to a halt
US order sets date for Chevron to grind oil exports from Venezuela to a halt Chevron has been given a 30-day deadline to bring a wind-down of its crude oil production and exports in Venezuela to an end, as its previous license has been revoked by the U.S. Treasury Department’s Office of Foreign Assets Control…
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US renews Serica’s North Sea field sanction exemption
US renews Serica’s North Sea field sanction exemption UK-based upstream oil and gas player Serica Energy has secured an extension of a sanction waiver from the United States Office of Foreign Assets Control (OFAC) for its field in the UK sector of the North Sea. The post US renews Serica’s North Sea field sanction exemption…