Chevron and Valero Energy are reportedly gearing up to resume imports of Venezuelan crude to the U.S., signaling a potential shift in American-Venezuelan energy relations. The move comes after Washington granted Chevron a limited license in late July, permitting select transactions with Venezuela’s state oil firm, PDVSA, under strict conditions.

According to sources cited by Reuters, the two energy giants are currently discussing the logistics of restarting oil flows to Valero’s refineries in the U.S. The expected restart includes a possible revival of ship-to-ship transfers off Aruba, a method previously used to move crude from Venezuela to American facilities.

While the license allows Chevron to resume shipments, it strictly prohibits any financial benefit going directly to President Nicolas Maduro’s administration. The permit follows a recent prisoner exchange deal between the U.S. and Venezuela, which spurred a broader reconsideration of sanctions.

Chevron is now awaiting the allocation of August cargoes from PDVSA, with initial deliveries expected to be modest in volume. Before U.S. sanctions froze operations, Chevron had been supplying Valero with around 50,000 barrels per day of Venezuelan heavy crude—roughly a fifth of its total exports from the South American nation during that period.

This renewed supply chain could offer much-needed relief to Chevron’s Petroboscan joint venture in western Venezuela. The project, which produces Boscan-grade heavy crude, has suffered production setbacks due to limited storage options.

Pending inspections and final vessel agreements, crude deliveries could restart later this month.

Industry watchers say the deal could be a test case for future U.S.-Venezuela energy cooperation, especially if policy flexibility continues amid geopolitical developments.