US Issues License for Oil Companies to Work in Venezuela (3)

The Trump administration issued a general license expanding the ability of oil companies to operate in Venezuela, marking a significant step to ease sanctions under the new US-backed leadership in Caracas.

The license issued by the US Treasury Department Thursday covers a variety of activities that could expedite the movement of Venezuelan crude, including exporting, selling, storing and refining that oil, as long as the work is performed by a US entity. According to an administration official, it does not cover upstream crude production inside the country where currently just one US oil company — Chevron Corp. — operates ...