The United States has completed the first official sale of Venezuelan oil. According to a U.S. administration official, the sale—worth approximately $500 million—has been formally carried out, with “more sales expected in the coming days and weeks.”
This move was taken within the framework of an approximately $2 billion “energy deal” reached earlier this month between Washington and Caracas. Speaking to Atlanta-based CNN, a senior source said that the proceeds are being controlled by the U.S. government, with the main account located in Qatar.
U.S. President Donald Trump had earlier this year openly expressed his intention to gain access to Venezuela’s vast oil reserves.
In a statement at the White House, Trump’s spokesperson said that the Trump team is holding positive talks with companies that are “ready to make unprecedented investments to rebuild Venezuela’s oil infrastructure.”
Venezuela holds an estimated 55.25 billion barrels of oil (2023 data), more than five times the size of U.S. reserves.
What Did Trump Say?
Following the U.S. military intervention in Venezuela and the abduction of Maduro, Trump met with senior executives of U.S. oil companies at the White House on January 9. He announced that discussions would focus on rebuilding Venezuela’s oil industry and increasing production.
The United States also plans to purchase between 30 and 50 million barrels of oil from Venezuela and sell this crude on the global market.
“Investors Are Approaching with Skepticism”
Meanwhile, reports in the U.S. media claim that energy sector executives who met with President Donald Trump at the White House viewed the government’s plans regarding Venezuelan oil with skepticism.
It was alleged that ExxonMobil CEO Darren Woods told officials, “The investment is not viable. A series of legal and commercial frameworks would need to be established just to understand what kind of return we would get on the investment.”
White House official Taylor Rogers, commenting on the issue, said, “Trump’s team is holding positive and ongoing discussions with oil companies that are ready and willing to make unprecedented investments to rebuild Venezuela’s oil infrastructure.”