US to issue general license for enery sector

U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela's energy sector, a shift from a previous plan to grant ⁠individual exemptions to sanctions for companies seeking to do business in the country.



Following the U.S. capture of Venezuelan President Nicolas Maduro earlier this month, U.S. officials have said Washington would ease sanctions imposed ⁠on Venezuela's energy industry to facilitate a $2 billion oil supply deal between Caracas and Washington and an ambitious $100 billion reconstruction plan for the country's oil industry.



Many partners and customers of state oil company PDVSA, including producers Chevron, Repsol and ENI , refiner Reliance Industries, and some U.S. oil service providers, have applied for individual licenses in recent weeks to expand output or exports from the OPEC member.



The large number of individual requests to the U.S. government has delayed progress on plans to expand exports and get investment moving quickly into the country.



The U.S. Treasury Department, the White House and Venezuela's oil ministry did not immediately reply to requests for comment.



Venezuela's entire energy industry was designated by the Treasury's Office of Foreign Assets Control as subject to U.S. sanctions in 2019 after Maduro's first re-election, which Washington did not recognize.