The US Treasury issues general licence allowing transactions related to oil or gas operations in Venezuela of certain entities

• Companies authorised to resume Venezuela operations include Chevron (CVX), BP (BP/ LN), Eni (ENI IM), Repsol (REP SM) and Shell (SHEL LN).

The issuance of a general license allowing select companies to resume oil and gas operations in Venezuela is a significant regulatory shift that may influence global energy markets. This move could potentially increase the supply of oil, affecting prices, particularly for WTI. Additionally, it signals a possible easing of U.S. sanctions, which may set a precedent for further cooperation or investment in Venezuelan energy resources.