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 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,

In a marked shift in U.S. policy toward Venezuela, the Trump administration has quietly approved a new license allowing oil giant Chevron to restart its operations in the South American nation, according to sources with direct knowledge of the negotiations.