Reuters’ Marianna Parraga reports that the Treasury Department has issued a new general license clearing the way for U.S. companies to provide equipment, technology, and services for oil and gas exploration and production in Venezuela.
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After years of sanctions and stalled projects, this is a meaningful shift. With output hovering around 1 million barrels per day, U.S. officials say production could climb by as much as 20% in the months ahead.
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For energy companies that have been waiting on approvals, this removes a major hurdle. The license still comes with guardrails—no new joint ventures, strict compliance with U.S. law, and payments routed through monitored channels—but it signals that Washington is prepared to reopen the door, cautiously. Combined with legal reforms in Caracas and talk of a broader reconstruction push, the move could reshape investment flows and put Venezuela’s oil sector back into play faster than many expected.
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