VENEECONOMIST
OFAC GENERAL LICENSESupersededEnergy

GL 41

GL 41 — Authorizing Certain Transactions for Chevron in Venezuela

Issued

Nov 26, 2022

Expiration

No expiration

Authorized entity

Chevron Corporation y subsidiarias

Type

General

Scope

Original November 2022 license that allowed Chevron to resume operations in joint ventures with PDVSA (Petroboscán, Petropiar, Petroindependencia, Petroindependiente) and export the resulting crude to the U.S. Under the 2026 regime it has been superseded by GL 46/49/50 with broader scope covering multiple majors.

Authorized activities

  • ·Operación de empresas mixtas Chevron-PDVSA (legacy)
  • ·Exportación de crudo Chevron a EE.UU.

Prohibited activities

  • ·Pagos directos al gobierno venezolano
  • ·Inversión en nuevos proyectos sin autorización adicional

VENE · ECONOMIST Analysis

Fact
GL 41 se convirtió en la licencia ancla del retorno corporativo estadounidense al upstream venezolano entre 2022-2025. Tras la cancelación parcial de marzo 2025 y la restauración de junio 2025, fue absorbida por el régimen GL 46/46B en enero-marzo 2026.
Implication
Chevron pasó de licencia exclusiva a competir con BP, Shell, Eni, Repsol y Reliance dentro del marco GL 46. Esto reduce su prima de exclusividad pero amplía la base de operadores con quienes negociar lifting agreements.
Indicator to monitor
Acuerdos comerciales firmados bajo GL 46/49 con majors europeos. Volumen de exportación Chevron VE→Gulf Coast vs. otros operadores.

Official source

OFAC — action page

This summary does not constitute legal advice. The final determination of scope and applicability of any OFAC license requires consultation with qualified legal counsel and review of the official text published by the Office of Foreign Assets Control. VENE · ECONOMIST maintains this page as editorial reference for institutional investors.

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Related licenses in this sector

GL 46C

GL 46C — Trade in Venezuelan-Origin Oil and Petrochemical Products

GL 48B

GL 48B — Supply of Goods and Services to Venezuela

GL 50B

GL 50B — Oil or Gas Sector Operations of Listed Entities

GL 52A

GL 52A — Transactions Involving Petróleos de Venezuela, S.A.

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