VENEECONOMIST
OFAC GENERAL LICENSESupersededEnergy

GL 46

GL 46 — Venezuelan Oil Trade by Established US Companies

Issued

Jan 29, 2026

Expiration

No expiration

Authorized entity

Compañías estadounidenses establecidas en sector energía VE

Type

General

Scope

Authorizes U.S. companies with established presence in Venezuela to engage in extraction, processing, transportation and export of Venezuelan crude and refined products. Marks the January 2026 structural shift toward a permissive regime. Superseded by GL 46B in March 2026.

Authorized activities

  • ·Operación de empresas mixtas con PDVSA
  • ·Exportación de crudo y productos refinados a EE.UU.
  • ·Lifting agreements con PDVSA

Prohibited activities

  • ·Pagos directos a entidades sancionadas individualmente designadas

VENE · ECONOMIST Analysis

Fact
GL 46 emitida 29 de enero de 2026 amplió el régimen Chevron-only (GL 41) a todas las compañías estadounidenses con presencia previa, en línea con la política de re-engagement Trump-Maduro.
Implication
El cap operacional de Chevron (~250K bpd) deja de ser el techo del flujo legal VE→US. ConocoPhillips, ExxonMobil legacy claims y servicers retoman conversaciones de lifting.
Indicator to monitor
Anuncios de lifting agreements bajo GL 46/46B. Datos mensuales EIA de imports VE→Gulf Coast.

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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FURTHER READING

04
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