An oil tanker is seen anchored in Lake Maracaibo after loading crude oil at the Bajo Grande Refinery port.
Jose Bula Urrutia/UCG/Universal Images Group via Getty Images
- The US finalised a $500 million Venezuelan oil sale, marking the first since Nicolas Maduro’s removal.
- Trump announced Venezuela’s interim authorities will transfer 30-50 million barrels of oil to the US.
- US oil companies plan $100 billion investments in Venezuela, bypassing Caracas’ control over its resources.
The United States has finalised a sale of Venezuelan oil – the first since Washington took control of the sector following the toppling of president Nicolas Maduro, a US official told AFP on Thursday.
According to the official, who did not identify the buyer, the deal is worth $500 million, and additional sales could take place in the coming days or weeks.
“President Trump brokered a historic energy deal with Venezuela, immediately following the arrest of narcoterrorist Nicolas Maduro, that will benefit the American and Venezuelan people,” said White House spokesperson Taylor Rogers.
Last week, Trump announced on his Truth Social platform, “the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America.”
He added: “This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America.”
He has also urged major oil companies to move aggressively to invest in the vast reserves of the South American country.
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He said that oil companies are prepared to invest at least $100 billion in Venezuela.
Under the White House plan, Caracas would have no say over the exploitation of its own underground resources.
Addressing oil executives last week, Trump said:
You’re dealing with us directly and not dealing with Venezuela at all. We don’t want you to deal with Venezuela.
Trump also signed an emergency order granting special protection to Venezuelan assets held in the United States, including oil revenues, a move aimed at shielding them from potential seizure by courts or creditors.
“President Trump is protecting our Western Hemisphere from being taken advantage of by narcoterrorists, drug traffickers, and foreign adversaries,” said Rogers.
