On February 10, 2026, the U.S. Treasury Department issued a general license that permits U.S. firms to supply goods, technology, software, or services for the exploration, development, or production of oil and gas in Venezuela. The authorization marks a significant shift in U.S. policy toward the country’s energy sector.
Under the license, companies can now participate in projects across Venezuela’s offshore and onshore fields, including the economically vital Lake Maracaibo region. The move is expected to open up new opportunities for U.S. exporters and investors looking to tap the country’s vast hydrocarbon resources.
This development follows a series of regulatory changes aimed at easing restrictions on trade with Venezuela. While the license offers fresh avenues for engagement, firms will still need to comply with existing sanctions and ensure all activities meet U.S. export control requirements.
