US to issue general license lifting some sanctions on Venezuelan oil industry, sources say 

U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela’s energy sector, four sources familiar with the preparation said on Tuesday, a shift from a previous plan to grant individual exemptions to sanctions for companies seeking to do business in the country. 

Why it matters

Many partners and customers of state oil company PDVSA, including producers Chevron, Repsol and ENI, refiner Reliance Industries, and some U.S. oil service providers, have applied for individual licenses in recent weeks to expand output or exports from the OPEC member.