Oil Major Total Evacuates Staff From Venezuela After U.S. Sanctions

[TomSea]

Oil Major Total Evacuates Staff From Venezuela After U.S. Sanctions
By Tsvetana Paraskova - Feb 07, 2019, 1:30 PM CST Total

France’s oil and gas major Total has pulled out all its personnel from Venezuela following the U.S. sanctions on Venezuelan state oil firm PDVSA, which also blocked Total’s accounts in the Latin American country, CEO Patrick Pouyanné said on Thursday.

Total’s accounts have been blocked due to U.S. decisions, AFP quoted Pouyanné as saying at the presentation of the group’s 2018 financials.

“The other practical problem is that, given the sanctions, we should no longer manage Venezuela from the United States... but from Europe,” the manager said, noting that Total of course will be complying with the U.S. sanctions and has put its Venezuelan operations in a “hibernation mode.”

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