Politico: Trump administration moves closer to opening Venezuela to more US oil producers

Eric Smith, professor of practice and associate director of the Tulane Energy Institute, was interviewed by Politico for a story about the Trump administration's steps this week to encourage international oil companies to invest in Venezuela.

Eric Smith, a professor of practice at Tulane University and associate director of the Tulane Energy Institute, said the OFAC license will immediately benefit oilfield service companies, which have been eager to expand their operations to kick-start Venezuela’s recovery.

“A general license would certainly provide support to Halliburton and some of the other big service companies,” Smith said.

Smith said he would also expect some of the companies already operating in Venezuela, such as Chevron and Spain’s Repsol, to use the general license to “optimize” their existing investments. That would allow them to marginally increase production without risking a large amount of additional capital, he said.

To read the story in its entirety, visit politico.com:

https://www.politico.com/news/2026/02/10/trump-open-venezuela-us-oil-00768970