CVX is set to receive a minimal license for safety-only work in Venezuela as U.S. policy shifts back to stricter Trump-era sanctions.

The Trump administration is preparing to issue a narrowly tailored license to Chevron Corp., allowing the oil producer to conduct minimal maintenance of essential operations in Venezuela, according to people familiar with the matter.

Chevron has been granted permission by the Trump administration to retain its Venezuelan assets after its sanction waiver expires, but it cannot export, operate, or expand those holdings.