GL 48A: The license that makes CORPOELEC a legal counterparty and opens Venezuela's power sector to U.S. suppliers
GL 48A is the most underrated license in the package. It does not trade oil — it supplies the goods, technology, software, and services that make production work.
GL 48A is the most underestimated license in the package. It does not trade oil — it supplies the goods, technology, software, and services that make production work. And as of March 13, it includes the electricity sector. CORPOELEC went from a prohibited entity to an authorized counterparty. For power equipment and grid infrastructure suppliers: the window is open.
The original GL 48 of February 2026 authorized goods and services for oil and gas exploration, development, and production. Full stop. GL 48A of March expanded that authorization in two simultaneous directions: petrochemicals and electricity. The inclusion of electricity generation, transmission, storage, and distribution transformed a petroleum license into an infrastructure license. CORPOELEC, the state-owned company that operates Venezuela's electrical system, went from a blocked entity with no access pathway to an expressly authorized counterparty.
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GL 48D — Supply of Goods and Services to Venezuela
Authorizes the supply from the U.S. or by a U.S. person of goods, technology, software or services for oil, gas and petrochemical exploration, development and production —including maintenance and repair of equipment—, and for electricity generation, transmission, storage and distribution in Venezuela. As of September 28, 2026, the petrochemical annex lists methanol. The formation of new joint ventures remains outside the license. Supersedes GL 48C.