14-February-2026
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US Eases Sanctions to Give Oil Majors Broad Scope to Operate in Venezuela
14-Feb-2026

The U.S. eased sanctions on Venezuela's energy sector on Friday, issuing two general licenses that allow global energy companies to operate oil and gas projects in the OPEC member and for other companies to negotiate contracts to bring in fresh investments. The move was the most significant relaxation of sanctions on Venezuela since U.S. forces captured and removed President Nicolas Maduro last month. The Treasury Department's Office of Foreign Assets Control issued a general license allowing Chevron, BP, Eni, Shell and Repsol to operate oil and gas operations in Venezuela. Those companies still have offices in the country and stakes in projects, and are among the main partners of state-run company PDVSA.

News Source:- https://money.usnews.com/investing/news/articles/2026-02-13/us-allows-oil-majors-to-resume-venezuela-operations-broadly-okays-new-energy-investments