The United States is preparing to grant new authorizations to key partners of Venezuela's state-run PDVSA, starting with Chevron , to allow them to operate with limitations in the sanctioned OPEC nation and swap oil,

Trump backs Chevron's return to Venezuela oil fields, challenging GOP critics and reversing policy, as U.S. negotiates prisoner releases and limits Maduro's profits.

The Trump administration had canceled Chevron’s license soon after taking office, charging the Maduro government was slow to take back deported Venezuelans.

The U.S. administration is considering authorizing Chevron and other key partners of Venezuela's PDVSA to operate with limited capacity under sanctions. This move marks a potential shift from a strict pressure strategy adopted earlier this year,

This development could constitute a departure from the pressure strategy that the US has maintained this year against Venezuela's oil industry.

The decision follows negotiations that led to the release of 10 American prisoners in the county.

US President Donald Trump’s administration is reversing course and allowing US supermajor Chevron to continue pumping oil in Venezuela, according to reports.

Details of the agreement aren't clear, according to the the Wall Street Journal, which first reported the story, but it allows Chevron to produce oil in Venezuela and export it to the United States for six months.