The Trump administration has previously withdrawn licenses for operations in Venezuela, including for the American Chevron, which is said to have wound up its operations in Venezuela by April 3 to avoid US sanctions.
According to the Trump administration's notification to Maurel & Prom regarding the withdrawn license, the company has until May 27 to wind up its operations in the South American country.
Venezuela, with President Nicolas Maduro, is economically dependent on revenue from the oil industry, where foreign companies such as Chevron and Maurel & Prom play a crucial role.
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