U.S. Greenlights Venezuelan Oil Revival: New License Enables Industry Expansion
Published on: Feb. 11, 2026, 5:28 a.m. | Source: Devdiscourse
The U.S. Treasury Department has issued a general license to boost Venezuela's oil and gas industry by allowing exploration, development, and production. This move could increase Venezuela's crude production by up to 20% in the coming months. The license mandates compliance with U.S. laws and prohibits new joint ventures.
