Caracas is teaming up with the Trump administration to explore the export of Venezuelan oil to the US. Delcy Rodríguez, the interim leader of Venezuela, is in close talks with Secretary of State Marco Rubio. This collaboration aims to overcome legal and bureaucratic challenges to facilitate the export of 30 to 50 million barrels of sanctioned oil, generating much-needed revenue for both countries.
“Stabilizing Venezuela is our main goal,” said a source close to the government. They emphasized the need to keep oil flowing, as both nations stand to benefit financially. Trump has noted that this agreement is with what he calls the “interim authorities” in Venezuela and highlighted the importance of this deal for the stability and recovery of the country.
However, following the recent capture of former leader Nicolás Maduro by American forces, questions arise about whether the Venezuelan government will cooperate with Trump’s plan. “Delcy is open to negotiation,” said the insider, adding that she values dialogue and compromise.
Despite no official comments from Rodríguez about Trump’s announcement, it’s clear that the Venezuelan government is negotiating with US entities for oil sales. PDVSA, the state oil company, confirmed this effort, aiming to sell oil volumes despite past sanctions and obstacles.
Recent studies indicate that rebuilding Venezuela’s oil sector will need about $180 billion in investments to restore production levels. Chevron, the only major US company still operating in Venezuela, has shown potential to rapidly increase oil production. Shell has also expressed plans to resume operations at the Dragon field—a gas project stalled since 2019.
With the US reopening dialogue, the hope is that this partnership could lead to significant investment and stability in Venezuela. However, challenges remain, especially as the US does not officially recognize Rodríguez’s government. The complexities of international relations and regulatory issues make this an area to watch closely.
Experts suggest that if the oil export deal goes through, it could reshape not just Venezuela’s economy but also impact global oil prices. This situation underscores the delicate balance of power and economics in international politics today.
For more detailed insights into the situation in Venezuela and its oil industry, you can visit Reuters.
