U.S. President Donald Trump on Monday issued an executive order declaring that any country buying oil or gas from Venezuela will pay a 25% tariff on trades with the U.S., while his administration extended a deadline for U.

The state-owned Natural Gas Company of Trinidad & Tobago (NGC) and UK supermajor Shell have an Office of Foreign Assets Control (OFAC) licence from the US Treasury Department to develop the Dragon gas field, which lies in Venezuelan waters. The Caribbean nation says it needs the Venezuelan gas to supply itself and its near neighbours.

Loading of Venezuela's heavy crude at its main oil ports slowed this week after the U.S. imposed a tariff on trade with countries buying the South American nation's oil and producer Chevron began reducing its tanker fleet there,

La administración Trump amplió el plazo de Chevron Corp. para detener sus operaciones en Venezuela, luego de los esfuerzos del gigante petrolero con sede en Texas.

The Department of the Treasury's Office of Foreign Assets Control (OFAC) has extended the time Chevron Corp. has to wind down oil exports from Venezuela.

Trump is shaking up energy markets again. The U.S. president just announced a 25% tariff on any country that buys oil or gas from Venezuela,

The president reportedly expressed he was open to reversing his decision from earlier this month, when he ordered Chevron to wind down operations in Venezuela within 30 days.

US President Donald Trump's administration is considering extending an April deadline for Chevron to wind down operations in Venezuela after he suspended a controversial oil licence in late February.

Chevron Corporation CVX has got the U.S. government’s deadline extension by at least 30 days to wrap up its operations with Venezuela’s state-owned energy major, Petroleos de Venezuela SA.