US-Venezuela Tensions

US Issues License for Oil and Gas Exploration in Venezuela

The new license is expected to help Venezuelan crude production return to pre-2026 levels.
US Issues License for Oil and Gas Exploration in Venezuela
The vessel tanker Bella 1 at Singapore Strait, after U.S. officials say the U.S. Coast Guard pursued an oil tanker in international waters near Venezuela, in this file picture taken from social media on March 18, 2025. Hakon Rimmereid/via Reuters
Jill McLaughlin
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The U.S. Treasury Department issued a general license on Feb. 10 authorizing the exploration, development, and production of oil and gas in Venezuela—a long-awaited step to help increase crude output from the country.

The license allows U.S. citizens to conduct specific oil and gas-related transactions with the Venezuelan government, including providing goods, technology, software, and services for exploration work, development of new oil and gas sites, or production.

Jill McLaughlin
Jill McLaughlin
Author
Jill McLaughlin is an award-winning journalist covering politics, environment, and statewide issues. She has been a reporter and editor for newspapers in Oregon, Nevada, and New Mexico. Jill was born in Yosemite National Park and enjoys the majestic outdoors, traveling, golfing, and hiking.