The US government issued a general license to allow oilfield-service companies to work in Venezuela as the Trump administration eases sanctions and pushes to rebuild the nation’s crude infrastructure.
The license issued by the Treasury Department allows US firms to explore, develop and produce oil and natural gas in Venezuela under certain limited conditions, according to a statement Tuesday.
The move is the latest in a series of steps Washington has taken to entice US companies to revive output from Venezuela’s vast crude reserves after last month’s capture of strongman Nicolás Maduro.
In January, the US issued a general license ...
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