U.S. Revokes Offshore Gas Project Licenses

The U.S. has revoked two licenses for offshore natural gas projects between Trinidad and Tobago and Venezuela. Companies involved, including Shell and BP, must cease activities by May 27, according to Trinidad's Prime Minister Stuart Young at a recent press conference.

The United States has officially revoked two licenses previously granted to support offshore natural gas projects between Trinidad and Tobago and Venezuela, announced Stuart Young, the Prime Minister of the Caribbean nation, on Tuesday.

The licenses were critical for allowing companies like Shell, BP, and Trinidad's National Gas Company to initiate planning and development on offshore gas projects. Now, these companies face a deadline of May 27 to halt their ongoing activities, Young revealed during a scheduled press conference.

This revocation marks a significant shift in the approval previously provided and poses substantial implications for the energy sector in the region.

(With inputs from agencies.)