Chevron CVX will reportedly receive an expanded Venezuela license from the U.S. this week that could allow for increased production there. A Chevron spokesperson said the company operates in compliance with all laws, regulations, and sanctions frameworks. Per Reuters, the license could come as soon as tomorrow.

The U.S. oil producer is anticipated to be one of several ‌firms to get approvals from President Donald Trump’s administration to do business in Venezuela as oil companies, traders and refiners look for access to the country’s heavy crude, sources tell Reuters. Reuters also reported last week that Chevron was in talks with the U.S. government to expand a key license to operate in Venezuela so it can increase crude exports to its own refineries and sell to ⁠other buyers.

Also Read: Exxon Mobil (XOM) Forecasts Lower Q4 Earnings: Time to Buy?

Chevron is the last major U.S. oil company in Venezuela, and stands to be one of the most profitable oil companies after the Trump administration of the South American nation. A lot of investment experts suggest that, as a result of the US-Venezuela situation, oil stocks could be a solid bet in 2026. Forecasts for top oil stocks like XOM and CVX remain unchanged, but should the US officially take over Venezuela’s Oil supply, those stocks could surge.

Chevron CVX shares are up over 2% on Wednesday and over 10% in the last five days.