Overview

• The administration is considering authorizations that would let companies pay oilfield contractors and import crucial equipment to maintain operations under strict no-profit rules.
• Chevron, which has held a narrow maintenance license since May, would be first in line for expanded permissions, with European partners such as Eni and Repsol also under consideration.
• The move marks a reversal from February orders that revoked PDVSA energy licenses and mandated that foreign firms wind down by late May.
• Officials emphasize that any modified approvals must explicitly bar oil revenues from bolstering Maduro’s government and can be altered or rescinded by Secretary of State Marco Rubio.
• The deliberations follow this month’s prisoner swap, aiming to counter China’s absorption of nearly 600,000 barrels per day of Venezuelan exports.