Phase Two of the Reset: OFAC Opens the Door for Investment and Specific Operators
OFAC's General Licenses 49 and 50 mark the shift from keeping Venezuela's oil industry afloat to laying the legal groundwork for its expansion. How the new licenses transform deal-making from prohibited to permissible.
How Four OFAC Licenses Systematically Reopened Venezuela's Oil Industry
Between January 29 and February 10, 2026, four coordinated OFAC general licenses systematically rebuilt Venezuela's oil value chain, from production to export logistics. What each license authorizes and how they fit together.
Architecting Venezuela's Oil Boom
The 2026 Hydrocarbons Law reform echoes the legal framework that launched Venezuela's original oil boom. What the 1922 law can teach us about the opportunity ahead.
The January 29 Convergence: GL 46 and Venezuela's Hydrocarbon Reform
Venezuela's energy sector was reshaped on January 29, 2026, when OFAC issued General License 46 and the National Assembly approved a sweeping reform to the Organic Law on Hydrocarbons. What the two instruments mean for foreign investors.