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US issues license facilitating oil, gas exploration and production in Venezuela
| USA | economy

US issues license facilitating oil, gas exploration and production in Venezuela

#Venezuela #Oil and Gas #U.S. Sanctions #Treasury Department #Nicolas Maduro #Energy Market #General License 44

📌 Key Takeaways

  • The U.S. Treasury issued a general license easing sanctions on Venezuela’s oil and gas sectors.
  • The license allows for the production, sale, and export of Venezuelan energy resources for a six-month period.
  • The move is tied to a diplomatic agreement between the Maduro government and the opposition regarding upcoming elections.
  • Washington retains the right to revoke the license if democratic commitments are not met by the Venezuelan administration.

📖 Full Retelling

The United States Department of the Treasury issued a specific general license on Wednesday in Washington D.C., authorizing oil and gas exploration and production activities in Venezuela to stabilize global energy markets and incentivize ongoing democratic reforms within the South American nation. This strategic move marks a further shift in U.S. foreign policy toward the administration of President Nicolas Maduro, providing a legal framework for American and international energy firms to resume or expand operations that had been largely frozen under a broad sanctions regime. By easing these restrictions, the Biden administration aims to integrate Venezuelan crude back into the global supply chain while maintaining leverage over the country’s political landscape. The newly issued General License 44 provides a six-month window for transactions involving the oil and gas sector, specifically allowing for the production, lifting, sale, and exportation of oil or gas from Venezuela. Furthermore, the license facilitates the payment of invoices for goods and services related to these energy operations, as well as new investments in the sector. This decision follows recent negotiations between the Venezuelan government and the opposition, which resulted in a roadmap for more transparent and competitive elections. U.S. officials emphasized that the relaxation of sanctions is contingent on the Maduro administration following through on its commitment to allow all candidates to run for office and to release political prisoners. Industry analysts suggest that while the license is a significant milestone, it will take considerable time for Venezuela’s infrastructure to recover from years of underinvestment and mismanagement. Most of the immediate impact will likely be seen in the settlement of existing debts through oil shipments and the restart of maintenance projects by major players like Chevron and other joint-venture partners. The Treasury Department has warned that it retains the authority to amend or revoke the license if the Venezuelan leadership fails to uphold the democratic standards outlined in the recent electoral agreement. This calibrated approach reflects Washington's attempt to balance domestic energy security needs with its long-term goals for regional democratic stability.

🏷️ Themes

Geopolitics, Energy Policy, International Relations

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🔗 Entity Intersection Graph

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📄 Original Source Content
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry As Claude disrupts stock market, Anthropic researcher warns ’world is in peril’ Gold, silver prices rise amid U.S.-Iran tensions, blowout January payrolls data Dow halts three-day win streak as blowout jobs data curbs rate cut bets Citi pushes back Fed rate cuts to May after blowout January jobs report (South Africa Philippines Nigeria) US issues license facilitating oil, gas exploration and production in Venezuela Stock Markets Published 02/10/2026, 05:20 PM Updated 02/10/2026, 10:18 PM US issues license facilitating oil, gas exploration and production in Venezuela 2 CVX 1.91% REP 3.01% XOM 2.62% COP 3.45% RELI 0.70% E 2.03% By Marianna Parraga Feb 10 - The U.S. Treasury Department on Tuesday issued a general license to facilitate the exploration and production of oil and gas in Venezuela, a long-awaited step that could help increase output in the country. Washington has relaxed sanctions on Venezuela’s energy industry since U.S. forces captured President Nicolas Maduro in early January. It previously granted several general licenses to facilitate oil exports, storage, imports and sales from Venezuela. Oil drillers need U.S. authorization to use specialized equipment in Venezuela and to import rigs required to expand the country’s oil output, currently at almost 1 million barrels per day. The U.S. Energy Information Administration said on Tuesday Venezuela’s crude production could see an increase of up to 20% in the coming months. The new general license authorizes the provision of U.S. goods, technology, software or services for the exploration, development or production of oil and gas in Venezuela, it says. The permit mandates that any contract for the authorized transactions to be signed with Venezuela’s government or state energy company PDVSA must follow U.S. laws, with disputes to be resolved in the United States. Payments to any sanctioned entity must be made into a U.S.-overseen fund, it adds. The li...

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