Venezuela suspends 19 oil contracts under new US oversight. Venezuela's oil ministry has suspended 19 production-sharing contracts signed during Maduro's administration, with the Venezuelan and U.S. governments now reviewing company credentials. The suspension follows the U.S. capture of Maduro in January and subsequent control of Venezuela's oil exports. State oil company PDVSA continues selling crude from these contracts while they remain suspended. Many of the suspended contracts involve little-known companies registered in tax havens and were signed while Venezuela faced U.S. sanctions. The deals include projects in Lake Maracaibo and the Orinoco Belt, Venezuela's primary oil region. Large international oil companies had largely avoided Venezuela due to past expropriations and sanctions.
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