Friday, February 13, 2026 at 8:15 PM
The US has eased sanctions on Venezuela's energy sector, allowing major oil companies like Chevron and BP to operate in the country, marking a significant relaxation of restrictions following the removal of President Nicolas Maduro.
The Trump administration put out a new general license authorizing equipment and technology transactions.
Chris Wright said “enormous progress” is being made on crude production.
Florida energy mogul Harry Sargeant III has been eyeing the country’s reserves for years. He’s on the cusp of the windfall of a lifetime.
But using the same strategy the White House directed at Venezuela is seen as likely to spark retaliation by Tehran and a surge in oil prices.
