US Treasury grants license for oil and gas production in Venezuela

The US Treasury issued a license on Tuesday for oil and gas production in Venezuela. This allows the provision of goods and technology for energy development.

The United States USUS Treasury Department issued a general license on February 10, 2026, authorizing the provision of goods, technology, software, and services for the exploration, development, or production of oil and gas in Venezuela VEVE. This licensing decision directly changes the regulatory permissions that govern the use of U.S.-origin resources within the Venezuelan energy industry, effectively opening a pathway for renewed cross-border commercial activity.
Oil platforms and pumpjacks are seen at Lake Maracaibo in Cabimas, Venezuela, on January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo
Oil platforms and pumpjacks are seen at Lake Maracaibo in Cabimas, Venezuela, on January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo
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