The United States has taken new steps to further ease sanctions on Venezuela’s oil industry. On Tuesday, the U.S. administration issued several measures that expand opportunities for American companies to participate in the Venezuelan energy sector. The U.S. Treasury Department granted multiple licenses, including one allowing specific transactions with the Venezuelan government and state-owned oil company Petróleos de Venezuela S.A. (PDVSA). These permits cover the supply of goods, technology, and software necessary for oil and gas exploration, development, and production.

Another license authorizes certain transactions related to port and airport operations, while a third document allows specific activities involving oil originating from Venezuela. According to AFP reports from Washington, the decision coincides with U.S. Energy Secretary Chris Wright’s planned visit to Venezuela, though no date has been announced. Media reports suggest oil sector discussions may take place during the visit.

Venezuela, under strict U.S. sanctions since 2019, holds nearly one-fifth of the world’s proven oil reserves and was once a major crude supplier to the United States.