Broken pumps, rusted pipes, ghost towns mark Venezuela's once vibrant oil hub. It will cost billions to restore the industry.

The U.S. eased sanctions on Venezuela's energy sector on Friday, issuing two general licenses that allow global energy companies to operate oil and gas projects in the OPEC member and for other companies to negotiate contracts to bring in fresh investments.

TotalEnergies completely exited its oil and gas operations in Venezuela in 2022, following a strategic shift away from heavy and high-sulfur crude.

U.S. Energy Secretary Chris Wright is visiting Venezuela to assess the country's oil industry as the Trump administration eases sanctions and pushes a major overhaul.

By Nidhi Verma and Jarrett Renshaw NEW DELHI/WASHINGTON, Feb 13 (Reuters) - The United States has issued a general licence to India's Reliance Industries Ltd that will allow the refiner to buy Venezuelan oil directly without violating sanctions,

After decades of operating through sanctions and political turmoil, Ensign Energy Services now holds a strategic early-mover advantage as U.S. sanctions ease and Venezuela’s oil sector reopens to Western service firms.

US Energy Secretary Chris Wright vowed Wednesday to power a "dramatic increase" in Venezuelan oil output as part of a plan to "make the Americas great again." Wright called for a "dramatic increase"

The U.S. is cooperating with a regime in Venezuela it does not recognize, and it's unclear what role the opposition will play in the future.