The United States has recently authorized five oil companies, including Eni, to resume their operations in Venezuela, which marks a significant move amid ongoing international sanctions against the country. This decision, announced in a document by the U.S. Treasury Department, allows companies like BP, Shell, and the Spanish Repsol to work in the Venezuelan oil and gas sector, aligning their efforts with Chevron, which has been operating there under a special exemption. This development indicates a potential shift in U.S. policy towards engaging with Venezuela's oil industry, which is crucial for the nation's economy.

In Venezuela, the oil industry has traditionally been controlled by the state-owned company, Pdvsa. Under Venezuelan law, however, foreign companies are able to participate in the sector through mixed companies (